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Yeast is a living microscopic organism which converts sugar or starch into alcohol and carbon dioxide, which is why beer brewers, wine makers and bread bakers like it.
Baker's yeast is what we use most often for leavening when cooking. Baker's yeast is either active dry yeast (where the yeast is alive but inactive due to lack of moisture) or compressed fresh yeast (where the yeast is alive and extremely perishable as a result). Brewer's yeast is a non-leavening yeast used in brewing beer and can be eaten as a food supplement for its healthful properties (as you would wheat germ), unlike baker's yeast which is used for leavening. Brewer's years has a bitter hops flavor. Nutritional yeast is similar to brewer's yeast, but not as bitter because it is grown on molasses.
You should not use a live yeast (i.e. baking yeast) as a food supplement because it continues to grow in the intestine and uses up vitamin B instead of replenishing it.

 

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