Final answer:
The factory owner who needs to adjust his methods to fit a new market economy probably lives in a transitional economy.
Step-by-step explanation:
The factory owner who needs to adjust his methods to fit a new market economy probably lives in a transitional economy. This is because a transitional economy refers to a country that is in the process of shifting from a planned economy to a market economy. It typically involves economic reforms, such as privatization and liberalization, to adapt to the changing global market.
For example, China is a notable case of a transitional economy. In the late 1970s, China underwent market-oriented economic reforms and shifted from a command socialist system to a mixed economy. This shift has led to remarkable economic growth and transformed China from one of the world's poorest countries to a middle-income country.
Therefore, the correct answer is d. a transitional economy.