Final answer:
The European Union is a significant economic community with 27 member countries in 2022, fostering cooperation while maintaining member sovereignty.
Step-by-step explanation:
The European Union (EU) is an economic and political union that currently comprises 27 member countries. Initially founded by six countries, the EU has grown significantly over the years.
In 2022, it included a diverse group of nations that have come together to create a single market, allowing for the free movement of goods, services, money, and people.
While the EU promotes economic cooperation, it also maintains the sovereignty of its member states. The majority of the member countries have adopted the euro as their currency, with some exceptions.
The European Union's expansion over time has made it one of the world's core economic powerhouses, even though the physical size of Europe is only about 60% that of the United States.