Since it is a centrally planned economy, China does not face opportunity costs when economic decisions are made.

Question

Quizplus · Accepted Answer

Even though China is known as a centrally planned economy, it still faces opportunity costs when making economic decisions. Whenever a choice is made between two options, the benefits of the chosen option must be weighed against the benefits of the foregone option. This applies to both market and non-market economies.

Since It Is a Centrally Planned Economy, China Does Not