Page 17 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE

may cause an occurrence has determined, and the rest part formed

“coincidentally” (freely).
Evaluation on the line of probability → possibility → reality in the

transformation process from the potential situation to reality in relation to

economic occurrence is conducted. Probability is a measure of possibility,
and possibility is a measure of reason-result relations. Some authors keep

gradation of possibility (read: possibility) [The newest philosophical
dictionary. 1999, No. 4.: 216-218.]. We may consider differing of the

followings from economic point (by referring to the priority of its empiric –
functional essence):

1. Real possibility: Realization conditions of an economic occurrence

are possible in general: in this case, the point is about abstract possibility.
That is, let’s say that by putting one or more of certain causality chains in

action, we may consider the probability of happening of occurrence possible.

As seen, abstraction is not “possibility”, but forwards the opinion on
probability that makes it possible.

But in a certain possibility, the possibility of realization of an occurrence
appears within the real conditions concretely. At the same time, it is necessary to

show that real possibility does not only go in a formal logic, but also keeps its
actuality level in comparison with other opportunities.

2. Formal possibility is “everything” existing within the development

regularity of an economic situation. The process of getting possible of a formal
possibility acts as a non-conflict and independence (regardless of the

actualization factors of the development version) of an occurrence as a
development version.

In general, the possibility specter and degree of economic possibility
may be determined by analysis of a certain situation. In this context, logical

possibility is not a real possibility yet. On the other hand, abundance of choices

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