Which of the following is a feature of a "Transitional Economy"?

A transitional economy is characterized by the movement from a centrally planned economy to a more market-oriented one. This transformation often involves liberalizing trade and investment, deregulating markets, and encouraging private enterprise. The acknowledgment of a shift towards market-oriented practices is essential because it reflects the broader trend of integrating with global markets and adopting systems that support competition, innovation, and efficiency.

The transition can include reforms that promote entrepreneurship and reduce government control over production and pricing, fostering a more dynamic and responsive economic environment. This focus on market orientation is a fundamental aspect that distinguishes transitional economies from other economic types, highlighting their developmental journey.

In context, features such as government regulation or a steady state of no changes would not align with the vibrant and evolving nature of a transitional economy, which is defined by its active efforts to evolve and reform its economic structure.