[Answer] What is the purpose of competition?

Answer: to act as a regulating force in the marketplace
What is the purpose of competition?

Competition – Wikipedia

Competition Act – Wikipedia

Competition law – Wikipedia

The Competition Act 2002 – Wikipedia

Competition arises whenever two or more parties strive for a common goal which cannot be shared: where one’s gain is the other’s loss (an example of which is a zero-sum game). Competition includes rivalry between entities such as organisms individuals economic and social groups etc. The rivalry can be over attainment of any exclusive goal including recognition:(e.g. awards goods mates sta…

Competition arises whenever two or more parties strive for a common goal which cannot be shared: where one’s gain is the other’s loss (an example of which is a zero-sum game). Competition includes rivalry between entities such as organisms individuals economic and social groups etc. The rivalry can be over attainment of any exclusive goal including recognition:(e.g. awards goods mates status prestige) leadership market share niches and scarce resources or a territory. Competition occurs in nature between living organisms which co-exist in the same environment. Animals compete over water supplies food mates and other biological resources. Humans usually compete for food and mates though when these needs are met deep rivalries often arise over the pursuit of wealth power prestige and fame when in a static repetitive or unchanging environment. Competition is a major tenet of market economies and business often associated with business competition as companies are in competition with at least one other firm over the same group of customers. Competition inside a company is usually stimulated with the larger purpose of meeting and reaching higher quality of services or improved products that the company may produce or develop. Competition is often considered to be the opposite of cooperation however in the real world mixtures of cooperation and competition are the norm. In economies as the philosopher R. G. Collingwood argued “the presence of these two opposites together is essential to an economic system. The parties to an economic action co-operate in competing like two chess players”. Optimal strategies to achieve goals are studied in the branch of mathematics known as game theory. Competition has been studied in several fields including psychology sociology and anthropology. Social psychologists for instance study the nature of competition. They investigate the natural urge of competition and its circumstances. They also study group dynamics to detect how com… Read more on Wikipedia

Competition within between and among species is one of the most important forces in biology especially in the field of ecology . Competition between members of a species (“intraspecific”) for resources such as food water territory and sunlight may result in an increase in the frequency of …

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