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Economics studies, professionals working in money-related fields, and those with an interest in money put a focus on economic analysis. The term essentially means the comparison and study of two economic areas, but it actually encompasses a number of other issues. The idea often involves the issue of supply and demand.
Supply and demand is a basic economic law that looks at how society uses certain objects. When demand for an item is low, the item sells at a lower price. When the demand is higher, then the object naturally costs more. You also have the risk of the demand being higher than the supply.
Several times a lack of popular Christmas toys led to parents spending much more for the item. The Tickle Me Elmo, Beanie Babies, and Cabbage Patch Dolls all follow this trend. The stores did not stock enough toys, and the cost rose on the secondary market. Analysis experts compare the lack of items and how that affected others.
The same concept works when comparing two different cities, states, or countries. The analyst determines why demand is higher in one area and suggests methods of coping with that, such as sending more items to one area than another. Business.com, a leader in economic analysis information, compiled a list of links for more information on the topic.