Definition of Competition

Competition
Intra- or intermarket rivalry between businesses trying to obtain a larger piece of the same market share.

Competition
see Competitors.

Competition
(n.)
The act of seeking, or endeavoring to gain, what another is endeavoring to gain at the same time; common strife for the same objects; strife for superiority; emulous contest; rivalry, as for approbation, for a prize, or as where two or more persons are engaged in the same business and each seeking patronage; -- followed by for before the object sought, and with before the person or thing competed with.
  

competition

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Noun
1. a business relation in which two parties compete to gain customers; "business competition can be fiendish at times"
(hypernym) business relation
(hyponym) price war, price competition
2. an occasion on which a winner is selected from among two or more contestants
(synonym) contest
(hypernym) social event
(hyponym) game
3. the act of competing as for profit or a prize; "the teams were in fierce contention for first place"
(synonym) contention, rivalry
(antonym) cooperation
(hypernym) group action
(hyponym) contest
(derivation) compete, vie, contend
4. the contestant you hope to defeat; "he had respect for his rivals"; "he wanted to know what the competition was doing"
(synonym) rival, challenger, competitor, contender
(hypernym) contestant
(hyponym) champion, champ, title-holder

competition

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competition
\com`pe*ti"tion\ (?), n. [l. competition. see compete.] the act of seeking, or endeavoring to gain, what another is endeavoring to gain at the same time; common strife for the same objects; strife for superiority; emulous contest; rivalry, as for approbation, for a prize, or as where two or more persons are engaged in the same business and each seeking patronage; -- followed by for before the object sought, and with before the person or thing competed with. competition to the crown there is none, nor can be. a portrait, with which one of titian's could not come in competition. there is no competition but for the second place. where competition does not act at all there is complete monopoly. t. hadley.

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Cydgais
Cydgais = n. a competition

Cydymgais
Cydymgais = n. competition

Cysdadlaeth
Cysdadlaeth = n. competition

Cystadlwr
Cystadlwr = n. a competition

Ymbwyth
Ymbwyth = n. competition

Competition
Description: A government agency or agencies responsible for regulating biotechnology, biosafety, intellectual property rights and other relevant aspects.
Source: FAO Draft International Code of Conduct for Plant Biotechnology as it Affects the Conservation and Utilization of Plant Genetic Resources

Competition.
An interaction between or among two or more individuals or species in which exploitation of resources by one affects any others negatively

Competition
Interaction where two or more organisms in the same space require the same resource (e.g., food, water, nesting space, and ground space) which is in limiting supply to the individuals seeking it. Competition can occur at the interspecific or intraspecific biotic levels. Competition may also be the result of two different processes: exploitation or interference.

Competition
a type of activity existing among two or more elements of a system when each is striving to maximize its use of a finite and/or non-renewable resource. Agricultural land is an example of a finite, renewable resource. Mineral deposits are examples of finite, non-renewable resources. Competition for finite resources tends to accelerate rates of depletion or leads to overuse (see the tragedy of the commons). Overuse of finite, renewable resources can be corrected by altering the rewards and costs of marginal changes in use.

Competition
The rules on competition are intended to ensure that a European economic area based on market forces can function effectively. The European Community's competition policy (Articles 81 to 89 of the EC Treaty, formerly 85 to 94) is based on five main principles:

•the prohibition of concerted practices, agreements and associations between undertakings which may affect trade between Member States and prevent, restrict or distort competition within the common market;
•the prohibition of abuse of a dominant position within the common market, in so far as it may affect trade between Member States;
•supervision of aid granted by the Member States, or through State resources in whatever form whatsoever, which threatens to distort competition by favouring certain undertakings or the production of certain goods;
•preventive supervision of mergers with a European dimension, by approving or prohibiting the envisaged alliances;
•liberalisation of certain sectors where public or private enterprises have hitherto evolved monopolistically, such as telecommunications, transport or energy.

The first two principles may, however, be subject to derogations, particularly when an agreement between undertakings improves the production or distribution of products or promotes technical progress. In the case of state aid schemes, social subsidies, or subsidies to promote culture and conservation of heritage, are also examples of possible exceptions to the strict application of competition rules.

The difficulty of pursuing an effective competition policy lies in the fact that the Community must continually juggle aims that are sometimes contradictory, since it has to ensure that:

•the quest for perfect competition on the internal market does not make European businesses less competitive on the world market;
•efforts to liberalise do not threaten the maintenance of public services meeting basic needs.

See:

•Competitiveness
•Concentration
•Services of general economic interest
•State aid

Competition
Rivalry among individuals in order to acquire more of something that is scarce.

Competition
Competition is one of the most important concepts in economics, yet when examined closely, it turns out to be one of the most elusive concepts to nail down in practice. A market in some particular good or service is said by economists to be "competitive" if a substantial number of buyers and sellers trade in the good or service independently and thus no single buyer or seller is so "weighty" in the marketplace as to significantly influence the going price of the good or service by his/her individual decisions about how many units he personally will buy or sell.

The practical problems (and disagreements) in assessing whether a particular market is "competitive" or not arise when you look at the real world and try to specify the geographic boundaries of the market and the breadth or narrowness of the definition of the good on which you are focussing. Billy-Bob Motors may have the only Ford dealership in town, giving him a "monopoly" in some very narrow sense -- but local car buyers will be quick to travel to other Ford dealerships in any of a number of other cities or towns if Billy-Bob tries to take advantage of his monopoly by jacking up the price and then word gets around (perhaps through advertising) that there are noticeable advantages in the deals offered on Fords elsewhere. The bigger the price differential and the lower the transportation costs between seemingly distinct market areas, the larger the effective market area really becomes. Similarly, dealerships in Chevrolets, Plymouths, Volkswagens, Toyotas, Nissans, Volvos, Fiats, Hyundais, and Hondas are not selling exactly the same products as Ford dealerships (even Fords come in various models), but they sell very close substitutes for Fords that many buyers will turn to if the price of a new Ford at Billy-Bob's seems out of line. Used car dealers, estate sale auctions, bankruptcy liquidators and ordinary citizens selling their old cars through newspaper ads provide still other sources of supply for slightly less close substitutes for a brand new Ford. Even taxis, bus systems, rent-a-car agencies, subway systems, railroads, tractors, motorcycles, motorscooters, mopeds, bicycles, roller skates, dog-sleds and "shanks' mare" constitute partial substitutes for Ford ownership as a method of getting around from point A to point B and thus have a "competitive" restraining effect on pricing in the local market for Fords (which may be seen as only a part of some much broader market in means of personal transportation).

The bottom line -- competitiveness in markets is a matter of degree, and the observer's assessment of the degree of competitiveness in concrete instances will be heavily influenced by the observer's initial assumptions about the geographic extent of the market area and the breadth or narrowness of his definition of the good or class of goods that constitute equivalent products.

[See also: market, monopoly, monopsony, substitute goods]

Competition
kuhlaya

IWSC

Acronym of the prestigious institution "International Wine & Spirit Competition".
The aim is to award the excellence of wines and spirits worldwide since 1978.
Winners, each year, of Gold, Silver and Bronze Medals are restricted to one in each category and product.

Competition

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