Final answer:
The scientific name for the yeast used as a model organism by geneticists is Saccharomyces cerevisiae, which is instrumental in both fermentation processes and genetic research.
Step-by-step explanation:
The scientific name for the type of yeast commonly used as a model organism by geneticists is Saccharomyces cerevisiae. This single-celled fungus plays a significant role in baking, brewing, and winemaking due to its fermentative abilities and is also extremely important in biological research. Saccharomyces cerevisiae was the first eukaryote to have its entire genome sequenced, aiding in our understanding of cellular processes such as meiosis and mitosis, as well as diseases like cancer.