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is the process by which a nation changes its fundamental economic organization and creates new free-market institutions Selec
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Answer #1

Industrialization is a process by which economy transformed from its basic agricultural environment to the service or manufacturing goods .

economic liberalism is the choice by which individual make his or her decisions and not influenced majorly by the collective Institutions for bigger organisation

Transition basic meaning is to transform from from one phase to another .

so economic transition means the transition of the economy from the basic centrally planned economy to the new free market situation.

so the answer is option d

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