1 : the act or process of trying to get or win something others are also trying to get or win. 2 : a contest in which all who take part strive for the same thing. 3 : all of a person’s competitors He beat the competition.
What is the meaning of competition and example?
The definition of a competition is a contest, sports match or rivalry. The Super Bowl is an example of a competition. American Idol is an example of a competition.
What does competition mean in a sentence?
noun. the act of competing; rivalry for supremacy, a prize, etc.: The competition between the two teams was bitter. a contest for some prize, honor, or advantage: Both girls entered the competition. the rivalry offered by a competitor: The small merchant gets powerful competition from the chain stores.
What’s the base word for competition?
competition (n.) 1600, “action of seeking or endeavoring to gain what another is endeavoring to gain at the same time,” from Late Latin competitionem (nominative competitio) “rivalry,” in classical Latin “agreement,” noun of action from past participle stem of competere (see compete).
What is the purpose of a competition?
When firms compete with each other, consumers get the best possible prices, quantity, and quality of goods and services. Antitrust laws encourage companies to compete so that both consumers and businesses benefit. One important benefit of competition is a boost to innovation.
What do you mean by perfect competition?
Pure or perfect competition is a theoretical market structure in which the following criteria are met: All firms sell an identical product (the product is a “commodity” or “homogeneous”). All firms are price takers (they cannot influence the market price of their product). Market share has no influence on prices.
What’s wrong with competition?
Competitions can result in lower self-esteem because 90% of your workforce doesn’t get recognized. And if they’re not getting recognized (a positive motivator), they could be experiencing fear and anxiety: fear that they’ll disappoint their boss, coworkers, etc.
Competition is a situation in which two or more people or groups are trying to get something which not everyone can have. Competition is an activity involving two or more firms, in which each firm tries to get people to buy its own goods in preference to the other firms’ goods.
What is healthy competition?
As a loose definition, healthy competition is the interaction between individuals that promotes and fosters striving for higher achievements yet creates an environment where everyone in the group hopes that everyone will do well, rather than wish that others fail.
Which is the best definition of the word competition?
noun the act of competing; rivalry for supremacy, a prize, etc.: The competition between the two teams was bitter. the act of competing; rivalry
What is the definition of competition in microeconomics?
In microeconomics, though, it is classified into the perfect competition that forces commercial companies to expand their product line and offer consumers a greater selection of first-rate products and the imperfect competition. Perfect competition assumes: the existence of many companies that sell a homogenous product.
What’s the difference between a contest and rivalry?
a contest for some prize, honor, or advantage: Both girls entered the competition. the rivalry offered by a competitor: The small merchant gets powerful competition from the chain stores.
What does it mean to be a competitive person?
› eager to do better than others in an activity, esp. trying to win in a sports activity: a competitive person. We will be facing weaker teams, which should give us a competitive advantage/edge. › Competitive also means able to compete at the same level: If we have to lower our prices to remain competitive, we will.
