Standard of Living

• By studying the economy, economists can improve its function, which results in higher standards of living and more resources for those affected by it.
  
  

Efficiency

• In cases where a given resource is particularly scarce--such as water in a desert community--economists can help plan its allocation so that the maximum number of needs are met.
  
  

Correcting Course

• When the economy turns sour, people often lose their jobs or find themselves with fewer resources. Because economists understand the causes of such downturns better than most, they can provide solutions to repair the damage.
  
  

Anticipation

• Economists often study indicators suggesting where the economy may be headed in the future. In so doing, they can help anticipate problems and correct them before they get out of hand.
  
  

Advice

• Elected officials, while steeped in public policy, may not be entirely familiar with the vagaries of economics. Economists can advise them and help craft legislation to provide the strongest possible economy for the county.