Question

What type of economy did Eastern Europe and the Soviet Union transition too

Answer 1

Eastern Europe & the (former) Soviet Union transitioned to a:

Market-based economy.

Answer 2

ANSWER:

After getting loose with Soviet Union on the year of 1989 the countries of Eastern Europe started to work in market-based economy and started to construct democratic institutions.

EXPLANATION:

• The market-based economy is known as the kind of economy in which  the market has a role of invisible hands in delivering and making production of goods.

• If any production or any sort of consumption is required than it will be decided upon the demands and requirements from the market.