Formula 1 is the pinnacle of open-wheel, single-seater car racing and arguably the highest level of any motorsport globally. Also... There's more... runs two competitions over the course of a season, the Drivers title and the Constructors title.
Formula 1 runs two competitions over the course of the season, the Constructor's title and the Driver's title. Points are... There's more... are awarded to both the OK, so we all know what the driver is, right. I've always liked the description that F1 drivers are like... There's more... and the In formula 1 the Constructor is the team that enters the competition - a company, manufacturer or entity that designs,... There's more... for the top ten finishers for each race. The Constructors title is awarded to the team with the most points at the end of the season.
Teams receive payment for competing over the season with a portion of it calculated based on their points tally. So while only one Constructors title can be awarded, there remains a huge incentive to finish well and scoop as many points as possible.