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high-income economy significant

defense-related light vehicle

energy revenues heavy vehicle

abundance wholesale

precious retail

hare household goods

improvement real estate

due to to contribute to

livestock output

grain mining

to account for construction

demand draw back

to emerge to lack

dissolution capability

capabilities trust

equipment to attract

in need of modernization. substantial

resource-based savings

manufacturing capacities to contribute

machinery overall

weaponry entrepreneur

fighter timber

air defense system ground transport

armored personnel carrier pharmaceuticals

infantry fighting vehicle footwear

Task 1. Answer the questions:

  1. What situation with natural resources is in Russia?

  2. How does the abundance of natural resources influence the economy?

  3. Is agriculture a highly developed sector of the economy?

  4. Why was Russian economy in deep crisis?

  5. What are the main industries in Russia?

  6. What are the proportions of the sectors of the economy in GDP (in %)?

  7. What can you say about the service sector?

  8. How is the banking system developed?

  9. What are the main exports?

  10. What are the main imports?

Task 2. Explain what the following terms and word phrases refer to.

  1. a high-income mixed economy

  2. strategic areas of the economy

  3. Russian economy relies on energy revenues

  4. a major share of Russia's exports

  5. abundance of natural resources

  6. it the largest forest country in the world

  7. show signs of improvement

  8. in need of modernization.

  9. competitive products for export

  10. the biggest sector of the economy

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