Which has occurred in what were formerly communist countries as they moved to free markets?

Question

Quizplus · Accepted Answer

The term "transition economy" refers to the process of moving from a centrally planned to a market-based economy, which has occurred in many formerly communist countries. This includes changes such as privatization of state-owned enterprises, liberalization of trade and investment, and the development of market institutions.

Answer: B
 Commercialization refers to the growth of commerce and trade, which typically occurs in countries that move from centralized planning to free markets. As state-owned enterprises are privatized and more businesses are allowed to operate, there is greater competition and commercial activity.

Answer: A
 Industrialization has occurred in some countries that have moved to free markets, as there is often a need to invest in infrastructure and modernize the industrial sector in order to compete in a global economy. However, this is not necessarily a universal outcome of transitioning to free markets.

Note: D and E are not accurate choices, as a fragmented economy and moderation in economic growth are not necessarily outcomes that are directly related to transitioning to free markets.

Which Has Occurred in What Were Formerly Communist Countries as They