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Which of the following statements best describes Russia’s current economy?Responses

It is a command economy where the government controls all aspects of the economy
It is a mixed economy but owns transportation, banking, and defense-related businesses.
Its energy-based industries are privatized, but Russia controls defense-related businesses
Its economy is similar to Britain and Germany in its reliance on markets.

User TomBot
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Final answer:

Russia's economy is best described as a mixed economy with significant government control in strategic industries, but it has an increasing reliance on market mechanisms, especially in its export-oriented natural resource sectors.

Step-by-step explanation:

The statement that best describes Russia's current economy is that it is a mixed economy but one that retains stronger elements of government control, particularly in strategic sectors such as transportation, banking, and defense-related businesses. While Russia has transitioned from a command economy to a more market-oriented system since the end of the Soviet Union, it does not rely on markets to the same extent as Britain and Germany.

The Russian economy exhibits characteristics of a mixed system with several key industries nationalized, significant government involvement in the economy, and a need to modernize its manufacturing base to compete globally. Export of natural resources like oil and natural gas is a significant aspect of the economy, strengthening its position on the global stage but also shaping a unique economic landscape within Russia.

User Ignacio Inglese
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