If an entrepreneur were considering a new business,which of the following would be a DESIRABLE characteristic of the industry being considered?
A) Several companies are engaged in highly competitive advertising,which indicates that the product is desirable.
B) The new company will sell a newly patented invention that is not yet well known but is expected to dominate the market.
C) Start-up costs are high,so only a few companies are in business.
D) The new company will be able to sell only to selected buyers.
E) Customers have substitute products from which to choose if the new company cannot produce the products as rapidly as needed.

Question

Quizplus · Accepted Answer

A newly patented invention that is expected to dominate the market represents a significant opportunity for an entrepreneur, as it suggests the potential for a unique product offering with less immediate competition and the possibility of establishing a strong market position.

If an Entrepreneur Were Considering a New Business,which of the Following