ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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investing billions
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still remains lower
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who takes risks
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lot of regulations
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lower in Europe
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Detailed explanation-1: -Worldwide gross domestic product in 2021 was at about 12, 230 USD per capita. GDP in Russia, on the other hand, reached USD 12, 400 per capita, or 1.779 trillion USD for the whole country. Russia is therefore one of the world’s largest economies and is currently at rank 11.
Detailed explanation-2: -The Russian Federation had multiple economic reforms, including privatization and market and trade liberalization due to the collapse of communism. The economy is much more stable than in the early 1990s, but inflation still remains an issue for Russia.
Detailed explanation-3: -The economy of Russia has gradually transformed from a planned economy into a mixed market-oriented economy. It has enormous natural resources, particularly oil and natural gas. It is the world’s ninth-largest economy by nominal GDP, and the sixth-largest by PPP. Russia’s membership to the WTO was accepted in 2011.