Economist

Definition

An economist is a person who studies and analyzes the production, distribution, and consumption of goods and services in an economy. They use economic theories and data to understand how resources are allocated and make recommendations for improving economic conditions.

Related terms

Supply and Demand: The relationship between the quantity of a good or service producers are willing to sell at various prices, and the quantity consumers are willing to buy at those prices.

Gross Domestic Product (GDP): The total value of all goods and services produced within a country's borders over a specific period of time.

Inflation: A sustained increase in the general price level of goods and services in an economy over time.