China's economy has grown tremendously from 1979 to the present.The reason for this growth is
A)the introduction of the centrally planned economy in 1978.
B)the introduction of market-oriented reforms in 1978.
C)the introduction of the social networking site,Facebook.
D)the total lack of governmental intervention in the economy.

Question

Quizplus · Accepted Answer

The introduction of market-oriented reforms in 1978 is the reason for China's economic growth. These reforms allowed for more private ownership and competition, leading to increased productivity and economic development. The centrally planned economy was actually hindering China's growth prior to these reforms. The lack of governmental intervention is not accurate as the Chinese government plays a significant role in the economy through policies and regulations. The introduction of Facebook also has no significant impact on China's economic growth.

China's Economy Has Grown Tremendously from 1979 to the Present