Running head: ANALYZING COMPETITIVENESS OF MARKETSAnalyzing the Competitiveness of Markets in the USAStudents NameInstitutional Affiliation1ANALYZING COMPETITIVENESS OF MARKETS2Analyzing Competitiveness of MarketsPart AThe United States is considered one of the economic powerhouses in the world, thebusiness environment is conducive and attracts dozens of investors, both locally andinternationally. Owing to this, competition in different segments is high but varies in intensityand scope experienced. This paper seeks to interrogate how competitive grocery stores andgasoline stations are, the elasticity of their demand curve and how profitable the two business inthe long run. To further analyze competitiveness of markets, the paper will also focus on factorsthat contribute to the highly competitive nature of the US airline market and analyze difficultyin rising ticket prices when fuel price rises.Grocery Stores and Gasoline StationsMany grocery stores and gasoline stations operate in a limited geographic area; therefore,they do not serve consumers from outside that small geographic area. This means they are notcompeting with other grocery stores and gasoline stations outside their area of operation. Also,the market is not competitive because of similarity in products this means that demanddeterminant factors such as taste and preference of customers, future expectations, and the levelof consumers income play an insignificant role in deter ...
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