Economic transition is the process of moving from ________.
A) developed to developing economies
B) centrally planned to free-market economies
C) developed to emerging economies
D) free-market to centrally planned economies

Question

Quizplus · Accepted Answer

Economic transition involves moving away from a centrally planned economy, where the government controls most aspects of the economy, to a free-market economy where market forces determine the allocation of resources. This process often involves privatization of state-owned enterprises, liberalization of trade, and deregulation of industries. Moving from developed to developing or emerging economies does not necessarily involve this specific shift in economic system, and moving from a free-market to centrally planned economy represents the opposite transition.

Economic Transition Is the Process of Moving from ________