RESEARCH PAPER ON EUROZONE. Literature & Language Essay (Essay Sample)

Eurozone
Azat Muhammedov
Monroe College
Economy is the effective management of resources that are available in a region CITATION Tho142 \l 1033 (Sowell, 2014). It involves production of goods and services, distribution of the produced goods and services and the consumption by users. It is determined by Gross Domestic Product (GDP). GDP, also called the economy size, is the total market value of the produced goods and services within a given period of time CITATION Don13 \l 1033 (Atwater, 2013). As stated by Sowell (2014), trading activities have increased and expanded beyond the national borders. This has led to the globalization of economy thus effecting the manner by which the globally available resources are utilized to satisfy the consumer wants. A real scenario is the formation of economic regions.
Economic regions have dominated the world in the 21st-century more than in any other century CITATION Mur14 \l 1033 (Murphy & Jordan-Bychkov, 2014). These regions are united by a set of agreed economic and legal conditions that the member states must comply with. One of the current economic regions in the world today is the Eurozone. It has a membership of 19 countries who are form the Euro area. These members have adopted the Euro as their legal currency thus replacing their national currencies CITATION Eur18 \l 1033 (European Commission, n.d.).