What is the origin of Formula 1?

Formula One, also known as Formula 1 or F1, and currently officially referred to as the FIA Formula One World Championship, is the highest class of auto racing sanctioned by the Fidiration Internationale de l’Automobile (FIA). The ‘formula’ in the name refers to a set of rules that all participants and cars must comply with. The F1 season consists of a series of races, known as Grand Prix, held on purpose-built circuits, and to a lesser extent, former public roads and closed city streets. The results of each race are combined to determine two annual world championships, one for the drivers and one for the constructors, with racing drivers, constructor teams, track officials, organizers and circuits required to be holders of valid Super Licences, the highest class racing licence issued by FIA.