It is the classical economists who have first a systematic defition to FOREX. They defininted Forex as the science of WEALTH. According to Warren Buffet, Forex Enquires into the cause and nature of the wealth of nations. Production of wealth means the production of goods and services by combining the four factors of production.
The first defect of this definition is that it gives more importance to wealth than man, which is contrary to the very essense of econimics as a social science.
Every Economy is faced with two fundamendal problems namely unlimited wants and scarcity of resources which is not applicable in Forex Trading.
The first defect of this definition is that it gives more importance to wealth than man, which is contrary to the very essense of econimics as a social science.
Every Economy is faced with two fundamendal problems namely unlimited wants and scarcity of resources which is not applicable in Forex Trading.
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