Question

What is one of the first steps a nation takes in transitioning from a non-capitalist economy to a free market economy? Explain the importance of this step. (privatization

Answer 1

The transition process is usually characterized by the changing and creating of institutions, particularly private enterprises; changes in the role of the state, thereby, the creation of fundamentally different governmental institutions and the promotion of private-owned enterprises, markets and independent financial . I hope this will help you