What is one of the characteristics associated with long-run economic growth, as identified by Robinson?

What is one of the characteristics associated with long-run economic growth, as identified by Robinson?

• A. Market saturation
• B. Distribution of power
• C. Technological innovation
• D. Global commodity prices

Answer: (B)

The characteristic associated with long-run economic growth, as identified by Robinson, is the distribution of power. This concept emphasizes the role that power dynamics within an economy play in shaping growth. In an economy where power and resources are distributed unevenly—whether politically, socially, or economically—there can be significant effects on growth patterns. Inequitable distribution can hinder a majority from contributing fully to economic activities, thus stifling potential growth. On the other hand, a more equitable distribution of power can facilitate broader participation in the economy, leading to increased productivity and innovation, ultimately fostering sustained economic growth. While the other choices also relate to economic conditions, they do not capture the specific focus on the distribution of power's influence on long-run growth. Market saturation pertains to limits in demand, technological innovation is crucial but is a separate mechanism that can lead to growth rather than a characteristic of the overall system, and global commodity prices are external factors that can influence but do not define the structure of economic growth as identified in Robinson's analysis.

The characteristic associated with long-run economic growth, as identified by Robinson, is the distribution of power. This concept emphasizes the role that power dynamics within an economy play in shaping growth. In an economy where power and resources are distributed unevenly—whether politically, socially, or economically—there can be significant effects on growth patterns. Inequitable distribution can hinder a majority from contributing fully to economic activities, thus stifling potential growth. On the other hand, a more equitable distribution of power can facilitate broader participation in the economy, leading to increased productivity and innovation, ultimately fostering sustained economic growth.

While the other choices also relate to economic conditions, they do not capture the specific focus on the distribution of power's influence on long-run growth. Market saturation pertains to limits in demand, technological innovation is crucial but is a separate mechanism that can lead to growth rather than a characteristic of the overall system, and global commodity prices are external factors that can influence but do not define the structure of economic growth as identified in Robinson's analysis.