Question

Which phrase best completes the diagram Russian in the 21 century

Answer 1

Answer:

An economy based on exporting oil and gas.

Explanation:

Russia in the 21st century is a developing country. It has transformed its economy and society significantly since the 1990s, and ever since it has had a growing economy. Also, unlike the command economy of the past, Russia's economy has gradually been shifting toward a market economy, which has helped immensely in its development.

The basis of the economy of Russia is the export of oil and gas, two highly demanded resources across the world that the country has in abundance. Seeing that relying on only these two resources to drive the economy can be risky, the government has helped in developing other economic branches as well. Agriculture for example has skyrocketed and modernized, making Russia one of the biggest agricultural producers in the world.