Economic theory is the science of various human activities related to money exchange or transactions. The subject of research of economic theory is the production or economic relations that arise in the production process between its participants. The type of economic formation for the emergence of certain production relations does not matter. Economic theory is also the science of using productive resources for the production of material values, as well as the distribution of material values ββand goods among members of society for consumption. Productive resources include land, labor, industrial goods, for example, machine tools and equipment, machines, as well as technical knowledge. The subject of the study of economic science is the daily business life of a person, his extraction of livelihoods, as well as the use of these funds. Also, economic theory, the subject of study of which includes tasks in the field of production and consumption of material wealth by mankind, is also a science of wealth. All of the above problems are solved by economic theory, but this list is far from complete, and the study of issues of economic science includes many more problems that are related to other sciences.
In short, economic theory is the science of what productive resources a person and society choose to produce all kinds of goods and distribute them to individuals or groups in society, with the help of money or without their direct participation. Therefore, the subject of research in economic theory covers all potential economic and industrial relations in society.
Human life in society is diverse and affects various types of its activities: the production of material goods, the provision of services, work in politics, culture, science, ideology. A completely natural desire of a person is the desire to influence in a certain way on economic, political, ideological processes in the direction necessary for a person. And this requires knowledge of the laws of economic theory, political economy, applied political science - that is, the sphere of life in which a person rotates. The subject of applied political science, for example, differs from that in theoretical political science, since these sciences reflect different areas of political research. Concrete situations in all their diversity is an aspect of the study of applied political science, and theoretical political science is the science of the general laws of development of political relations in the state, interstate relations, as well as inter-party relations within the state.
At the junction of the two sciences, and also due to the dismemberment of economic theory into various aspects, the subject of political economy arose during the period of the emergence of capitalism. It was a science reflecting the processes in society during the transition from the feudal system to the capitalist one.
Economic theory, the subject of its research, are called upon to study and explain the processes of economic life in order to be able to predict the development and direction of this type of relationship in society. And this requires an insight into the essence of deep processes and the discovery of the laws by which the economy lives and develops in society, regardless of its formation, whether it be an early period of feudalism or developed capitalism.