What is competition?

Competition is a competition between subjects in the economic sense of the word. Without competition, the market could not exist in the form in which it is presented to society now.

Instruction manual

1

Based on the concept of market competition, it should be noted that this type of competition arises if you want to sell your product as profitably as possible. Market participants are fighting for a better place, attracting and capturing the attention of buyers in order to sell more profitably, capture the majority of the market and make a profit. An important and universal factor in the competitive environment for the market is the price of the goods.

2

Due to competition, consumers are more able to choose for themselves a more suitable and high-quality product on the market.

3

Competition, like the game, is subject to certain rules. Often, participants also allow themselves to neglect this set of rules, thereby making competition illegal. The latter type is common among entities involved in illegal activities, whether it is the sale of unlicensed discs or the underground manufacture of cleaning products. Since the activity is not legalized, then in this case there is illegal rivalry. In such cases, the case may even go to the “forced disappearance" of the main competitor. In view of this, many scientists view competition as a struggle and subject this process to lengthy research.

4

Despite all the difficulties caused by competition, competition is very useful for society. This type of competition stimulates manufacturers to launch new types of goods on the market, and to improve the product range. Consumers in this situation are able to appreciate the innovation, giving preference to a particular product.

5

Competition takes place only where the owners of their business and producers of goods have unlimited freedom, namely: independent choice of suppliers and consumers, the right to control profits, independent production management.