ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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capital goods
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human capital
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natural resources
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entrepreneurship
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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: -In 2021, agriculture contributed around 3.8 percent to the GDP of Russia, 33.16 percent came from the industry and 52.91 percent from the service sector. Russia is one of the so-called BRIC countries, the four major emerging markets.
Detailed explanation-3: -Several reasons were proposed to explain the slowdown, including a prolonged recession in the EU, which is Russia’s largest trading partner, stagnant oil prices, lack of spare industrial capacity and demographic problems.
Detailed explanation-4: -Russia has a market-based economy with a high level of state involvement, and many government officials are quite wealthy. The Russian currency is the ruble. One ruble is worth approximately $0.016 U.S. dollar.