CIBC battery

Competition

Competition refers to the rivalry between individuals or groups striving for a common goal that cannot be shared. It often occurs in contexts such as business, economics, sports, and nature, where entities compete for resources, market share, or victories. In an economic context, competition can lead to innovation and improvement in quality and price as businesses seek to attract consumers. In nature, it can drive evolutionary adaptations as species compete for food, mates, and habitat. Competition can be classified into various types, such as perfect competition, monopolistic competition, and oligopoly, each representing different market structures. Additionally, it can manifest in healthy forms, promoting growth and development, or unhealthy forms, leading to unethical practices. Overall, competition plays a critical role in shaping interactions and outcomes within various fields.