You are writing a report about a company. This company sells products that a lot of other companies also sell. You are introducing the company. You write:
The fast food market in the U.S. is highly competitive.
A "market" is a large group of people that you are able to sell something to. Companies usually try to focus on a specific "market" that belongs in a certain geographical area and includes people of a certain age, gender, and income.
You can discuss a certain market by using the expression "the ___ market". Some examples are:
- the stock market
- the automotive market (cars)
- the fiction publishing market (printing novels)
A market, a sports league, a competition, etc. is "competitive" when several people or groups are trying hard to win against each other.
When something is very competitive, you describe it as "highly competitive".
The word "competitive" is often used to describe a "market".
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