Roland Has Developed and Patented an Inexpensive and Organic Way

question 3

Multiple Choice

Roland has developed and patented an inexpensive and organic way to enhance the fertility of clay soils without the addition of chemical fertilizers. But established agricultural chemical companies have rejected his proposals. After 6 months of promoting his invention during his time off from his regular job,Roland has decided to set his dream
Aside. Roland lacks a key characteristic of successful entrepreneurs,which is

• A)the ability to identify opportunities.
• B)a corporate sponsor.
• C)financial slack.
• D)passion for his invention.

---

Definitions:

Concentration Ratio

A measure of the market share held by the largest firms within an industry.

Industry

The segment of the economy concerned with production, as opposed to services, characterized by the manufacture of goods.

Firm(s)

Business organizations or entities engaged in commercial, industrial, or professional activities.

Concentration Ratio

A measure of the market share, often expressed in percentage, controlled by the top firms in an industry, used to assess competitive dynamics and market concentration.