Final answer:
To identify the type of economy in country C, one needs to assess how it answers the three fundamental economic questions and examine indicators such as the degree of government involvement, privatization, and economic freedoms. Without specific details about the country, it's not possible to provide a direct answer.
Step-by-step explanation:
To determine what type of economy exists in country C, one must look at how it answers three crucial economic questions: what goods and services should be produced, how they should be produced, and who gets them. These questions indicate whether an economy leans more towards a market or a command system. Moreover, factors such as the rate of privatization, the role of government in production, and economic freedoms help identify the nature of an economy. Economic development and transition indicators, including rapid growth or systemic change, may suggest whether a country is developing or transitioning.
A developed economy typically has a higher degree of industrialization, a higher standard of living, advanced technological infrastructure, and stronger regulatory systems. A developing economy usually has lower industrialization, and infrastructure development issues, and is working towards improving these aspects. A transitioning economy pertains to nations moving from a command to a market-based system, while a command economy is one where the government makes all decisions regarding production and distribution.
Given the information above and assuming that there are no explicit details about country C, we cannot unequivocally determine the type of economy without more context. However, if country C shows signs of rapid growth or systemic change, it might be a transitioning or developing economy.