COMPETITION
Meaning of Competition
Competition is the most fundamental form of social struggle. It is a natural result of the universal struggle for existence. It is based on the fact that all people can never satisfy all their desires. Competition occurs whenever there is an insufficient supply of things that humans commonly desire. Whenever and wherever commodities which people want are available in a limited supply, there is competition.
Definition of Competition
There are many definitions of competition given by different scholars. Some of the important definitions are given below:
1. Park and Burgess: “Competition is an interaction without social contact.”
2. Biesanz: “Competition is the striving of two or more persons for the same goal which is limited so that all cannot share.”
3. Horton and Hunt: “Competition is the struggle for possession of rewards which are limited in supply, goods, power, love – anything.”
4. Competition may also be defined as “the process of seeking to monopolise a reward by surpassing all rivals.”
From the above definitions, it may be concluded that competition is a process in which individuals or groups try to obtain things or things which have limited supply and which they cannot achieve or share collectively.
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