The economy refers to the system of production, distribution, and consumption of goods and services within a society or geographic area. It encompasses all economic activities, including the behaviors of individuals, businesses, and governments in terms of resource allocation, trade, and financial transactions. The economy is influenced by various factors including supply and demand, economic policies, and external market forces. It can be measured by indicators like GDP (Gross Domestic Product), unemployment rates, and inflation rates, which help to assess its overall health and performance. Economies can be classified into different types, such as traditional, market, command, and mixed economies, each defined by how decisions are made about resource use and ownership. The functioning of an economy impacts the well-being of its population, influencing living standards, employment opportunities, and overall quality of life.
Nationwide Building Society offers a Fairer Share Payment scheme, providing cash rewards to members. In recent years, payouts increased significantly, reaching £385 million for loyal members. To qualify, members should…