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  • Term: economic consultants
    Key Words: , art, consultants, economic, consultants, economic, consultants, wedding, consultants, macroeconomic, advisors, economic, analysis, public, sector, consultants, health, economics, economics, lesson, plans
    Related Terms: art consultants, economic consultants, economic consultants, wedding consultants, macroeconomic advisors, economic analysis, public sector consultants, health economics, economics lesson plans

    economic consultants!


    economic consultants

    Comprehensive Analysis



    1) "Economic" -- As to economic consultants

    eco·nom·ic
    Pronunciation: "e-k&-'nä-mik, "E-k&-
    Function: adjective
    1 archaic : of or relating to a household or its management
    2 : ECONOMICAL 2
    3 a : of or relating to economics <economic theories> b : of, relating to, or based on the production, distribution, and consumption of goods and services <economic growth> c : of or relating to an economy <a group of economic advisers>
    4 : having practical or industrial significance or uses : affecting material resources
    5 : PROFITABLE
    Pronunciation Symbols

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    Face-to-face trading interactions on the New York Stock Exchange trading floor
    Business and Economics Portal

    Economics is the social science that studies the production, distribution, and consumption of goods and services. The word 'economics' is from the Greek for οἶκος (oikos: house) and νόμος (nomos: custom or law), hence "rules of the house(hold)."

    Many different definitions have been applied to economics: one source describes it as "the study of how the forces of supply and demand allocate scarce resources."[1] Professor Victor Lima of the University of Chicago, on the other hand, used the more concise statement "economics is what economists do."[2]

    Although discussions about production and distribution have a long history, economics in its modern sense is conventionally dated from the publication of Adam Smith's The Wealth of Nations in 1776. There Smith defines the subject in practical terms:

    Political economy, considered as a branch of the science of a statesman or legislator, proposes two distinct objects: first, to supply a plentiful revenue or product for the people, or, more properly, to enable them to provide such a revenue or subsistence for themselves; and secondly, to supply the state or commonwealth with a revenue sufficient for the public services. It proposes to enrich both the people and the sovereign.

    Smith..."



    2) "Consultants" -- As to economic consultants

    con·sul·tant
    Pronunciation: k&n-'s&l-t&nt
    Function: noun
    1 : one who consults another
    2 : one who gives professional advice or services : EXPERT
    - con·sul·tant·ship /-"ship/ noun
    Pronunciation Symbols

    A consultant (from the Latin consultus meaning "legal expert") is a professional who provides expert advice in a particular area of expertise such as accountancy, the environment, technology, the law, human resources, marketing, medicine, finance, public affairs, communication, engineering or waste management.

    The main difference between a consultant and a 'normal' expert is that the consultant is not himself employed with his client, but instead is in business for himself or for a consultancy firm, usually with multiple and changing clients. Thus, his clients have access to deeper levels of expertise than would be feasible for them to retain in-house, especially if the speciality is needed comparatively rarely. It is generally accepted good corporate governance to hire consultants as a check to the Principal-Agent problem.

    A consultant is also the term used to denote the most senior medical position in the United Kingdom (e.g., a consultant surgeon).

    Often a consultant provides expertise to clients who require a particular type of knowledge or service for a specific period of time, thus providing an economy to the client. In other situations, companies implementing a major project may need additional experienced staff to assist with increased work during that period.

    More recently the term is also used euphemistically for temporary staff. That resource is only temporarily employed by a company to augment the company's core set of employees without providing any unique expertise. This usually indicates that the consultant could be expended when demand for that particular skill diminishes, though this expendability is sometimes recompensed with higher pay. The consultant is usually employed through a limited company which they themselves own, or through an umbrella company.

    Sometimes a consultant is not an independent agent but is a partner or an employee of a consultancy, that is a company that provides consultant..."



    Further Data On Term for economic consultants

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