ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Russia has a pure market economy.
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Russia has a pure command economy.
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The Russian economy relies on manufacturing.
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The Russian economy relies on natural resources.
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Detailed explanation-1: -Russia’s main exports are: fuels and energy products (63 percent of total shipments, of which crude oil and natural gas accounted for 26 percent and 12 percent respectively); metals (10 percent); machinery and equipment (7.4 percent); chemical products (7.4 percent) and foodstuffs and agricultural products (5 percent).
Detailed explanation-2: -China is the only country that has maintained its leading position among Russia’s largest trading partners since 2021. The trade turnover between the two countries in 2022 amounted to $140.7 billion. Next came Germany ($57 billion), the Netherlands ($46.4 billion) and Belarus ($38.4 billion).
Detailed explanation-3: -What Country Has the Greatest Value of Natural Resources? It’s estimated that Russia’s natural resources are valued at $75 trillion. They include crude oil, natural gas, coal, and rare earth metals. In 2021, it ranked third in the world in the production of industrial diamonds.