Question

Oldtown has only two grocery stores, but that is about to change. Coming this fall, two new grocery store chains are opening that focus on offering a wide variety at low prices. What impact will this have on the people of Oldtown?

Answer 1

The opening of two new grocery store chains in Oldtown will offer more variety and lower prices, potentially leading to better customer service.

Step-by-step explanation:

The opening of two new grocery store chains in Oldtown will have a significant impact on the people living there. Firstly, it will offer more options to the residents, giving them access to a wider variety of products. Secondly, the focus on low prices will likely result in competitive pricing among the grocery stores, which can ultimately benefit the consumers by lowering their overall grocery expenses. Lastly, the increased competition in the grocery market might lead to improved customer service, as the stores would strive to attract and retain customers by offering better shopping experiences.

Answer 2

Answer:This would increase competition among the grocery stores, which should lead to higher productivity and lower prices for consumers.

Explanation:When there are more shops in an area, the competition increases amongst the shops because now consumers will have plenty of choices to choose from , so if the service is poor from the other shop and the prices are too high, they will not hesitate to go for other shops and this particular shop will lose profit. For this reason the more shops they are the more productive all the shops will be and the more they will lower their prices to attract customers.