Transition period is a term used to describe a time of change, often from one state or condition to another. It is a period of adjustment and adaptation, and can refer to a variety of different contexts. The term 'transition period' can be used to describe the process of transitioning from one political system to another, such as from a monarchy to a democracy, or from a dictatorship to a republic. It can also refer to the process of transitioning from one economic system to another, such as from a centrally planned economy to a market economy. In addition, transition period can refer to the process of transitioning from one social system to another, such as from a traditional society to a modern society. The term 'PHASE' is often used to describe the different stages of a transition period.