Final answer:
The term referring to the success by firms when taking their inventions to market is conversion-ability (Option A). It involves turning R&D into profitable products and is crucial for a firm's success and economic contribution.
Step-by-step explanation:
The success achieved by firms when they take their inventions to market is referred to as conversion-ability. This concept ties closely with a firm's ability to turn their research and development (R&D) efforts into profitable products. In the broader context of business, successful firms not only innovate but also effectively commercialize their inventions, thereby recouping initial investments and ultimately contributing to economic growth as seen during industrialization.
Markets recognize this capability through various forms including patented inventions that provide exclusive rights to sell, which can then become well-respected brand names over time. The choice of production technology is also key in ensuring that output levels are met at the lowest possible costs, thus remaining competitive in the market. The transformation from an idea to a product that influences both business operation and consumer lifestyle encapsulates the very essence of conversion-ability.
Please note that the correct option for the question is 'A' - conversion-ability.