Competition

Competition
Intra- or intermarket rivalry between businesses trying to obtain a larger piece of the same market share. The New York Times Financial Glossary

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competition com‧pe‧ti‧tion [ˌkɒmpˈtɪʆn ǁ ˌkɑːm-] noun [uncountable]
1. COMMERCE a situation in which businesses are trying to be more successful than others by selling more goods and services and making more profit:

• Competition between the two cable companies has driven down the price for program services.

• They sell everything from food to furniture to fashion, often in direct competition with nearby stores.

• The company faces stiff competition from Japanese luxury brands.

— see also hypercompetition
ˌfree compeˈtition ECONOMICS
a system in which companies operate without a lot of government control and prices are determined by supply and demand (= the relationship between the amount of goods for sale and the amount that people want to buy )
imˌperfect compeˈtition
ECONOMICS in real markets, when the conditions for perfect competition do not exist
ˌperfect compeˈtition also ˌpure compeˈtition
ECONOMICS in a model market, when there are many small businesses producing the same products, all workers do the same types of jobs, buyers and sellers have complete knowledge about market conditions, and businesses and factories are free to move anywhere
ˈprice compeˌtition COMMERCE
when producers cannot charge as much as they would like to for their goods because others are charging less:

• Japanese semiconductor manufacturers are under tough price competition from Korean and other makers.

2. COMMERCE the competition all the businesses that compete with a particular business, seen as a group:

• In the past, Honda has kept ahead of the competition because it was small and fast.

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competition UK US /ˌkɒmpəˈtɪʃən/ noun
► [U] ECONOMICS the situation in which people or businesses are trying to be more successful than each other, for example by making more sales in a market: »

There has always been competition between the auto manufacturers.

 »

stiff/fierce/strong/tough competition

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Some healthy competition (= competition that is a good thing) makes everyone work harder.

 »

The decision to sell cheap TVs put the supermarket in (direct) competition with the major suppliers of electrical goods.

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foreign/global/ international competition

 growing/increasing competition »

US companies face increasing competition from Eastern markets.

 »

Politicians argued that subsidies stifled free competition.

 »

Traditional banks face competition from internet-based finance companies.

 »

Critics say merging the two largest manufacturers could stifle competition (= prevent competition).

● the competition — Cf. the competition
→ See also FREE COMPETITION(Cf. ↑free competition), IMPERFECT COMPETITION(Cf. ↑imperfect competition), PERFECT COMPETITION(Cf. ↑perfect competition), PRICE COMPETITION(Cf. ↑price competition)

Financial and business terms. 2012.

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Synonyms:
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Look at other dictionaries:

  • compétition — [ kɔ̃petisjɔ̃ ] n. f. • 1759; angl. competition; bas lat. competitio 1 ♦ Recherche simultanée par deux ou plusieurs personnes d un même avantage, d un même résultat. ⇒ concours, concurrence, conflit, rivalité. « Les intérêts diffèrent, les… …   Encyclopédie Universelle

  • Competition — Compétition Cette page d’homonymie répertorie les différents sujets et articles partageant un même nom …   Wikipédia en Français

  • competition — I noun attempt to equal, bout, challenge, combat, conflict, contentio, contest, corrivalry, encounter, engagement, open contest, opposition, outrivalry, pitting of strength, pitting of wits, race, rivalry, scramble, strife, striving for… …   Law dictionary

  • 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… …   The Collaborative International Dictionary of English

  • competition — [käm΄pə tish′ən] n. [L competitio] 1. the act of competing; rivalry 2. a contest, or match 3. official participation in organized sport 4. opposition, or effective opposition, in a contest or match 5. rivalry in business, as for customers or… …   English World dictionary

  • competition — competition. См. конкуренция. (Источник: «Англо русский толковый словарь генетических терминов». Арефьев В.А., Лисовенко Л.А., Москва: Изд во ВНИРО, 1995 г.) …   Молекулярная биология и генетика. Толковый словарь.

  • Competition — Competition, Hauptort der Grafschaft Pennsylvania im Staate Virginia der Vereinigten Staaten von Nordamerika, an einem Arm des Banister River, höchst fruchtbare Umgegend …   Pierer's Universal-Lexikon

  • Competition — (engl., spr. kompitisch n), Wettbewerb; unfair c., »unlauterer Wettbewerb« (s.d.) …   Meyers Großes Konversations-Lexikon

  • competition — competition, ecological …   Dictionary of sociology

  • competition — c.1600, action of competing, from L. competitionem (nom. competitio) agreement, rivalry, noun of action from competere (see COMPETE (Cf. compete)). Meaning a contest for something is from 1610s. Sense of rivalry in the marketplace attested from… …   Etymology dictionary

  • competition — [n] contest antagonism, athletic event, bout, candidacy, championship, clash, concours, contention, controversy, counteraction, dog eat dog*, do or die*, emulation, encounter, engagement, event, fight, game, go for it, go for the gold*, horse… …   New thesaurus

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