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Competition, especially in a free market economy, is a good thing for Americans. It is elementary in the sense that it is basic to all other forms of interaction. Though it seems clear, the world would probably be far less interesting if there wasn't any competition at all. It has become, in some ways, synonymous with greed, envy, and narcissism. Each individual is involved in countless ways of which he is generally unaware in a vast web of competitive relationships. In this example, the more soldiers you have in your army, the better. Competition seems to arise when there is perceived scarcity, both in nature and society. Business is a … Sports teach kids important values that they can carry through any challenge in life, such as discipline, time management, work ethic, aggression, competitive edge, attitude and strength. Don’t believe it? The role that open competition plays in keeping markets free and fair can never be overstated. The Importance of Competition Missouri and federal antitrust laws protect competition. "I believe that part of developing healthy competition is that children learn their most important competitor is their self," says Dr. Gunn. Perfect competition is impossible for a number of reasons. Cooperation integrates the wisdom of several people so that the project may be completed faster and better. Later on, the theory of the “survival of the fittest” which developed as a result of Darwin’s theory of evolution also stressed the importance of competition in society. Competition ensures the best rise to the top and elevate the people around them. In this case, you work with your smaller competition to get a stronghold over the market share. Competition is an elementary, universal and impersonal form of social interaction. … In fact, competition can be an effective tool for growing and improving your business. Competition is an inevitable part of the business world for businesses of any size. Competition keeps prices down and quality high as companies vie for dollars. Competition in school and sports is also a good thing as it helps kids get ready for real life. Being competitive can have an ugly connotation in our society. Unrestrained and deregulated competition is the most evident and obvious solution to many of the economic vices, crises, and impediments faced by a growing number of countries today. On the other hand, competition may be found so important in adult life, that a society especially educates their young to compete. It is not a necessary evil, but rather an important part of the business ecosystem. These include economies of scale, the ability of people to manipulate markets in different ways, externalities, and many other factors. It was consequently asserted that if nature is dominated by conflict this must also be true of human nature and human society. ADVERTISEMENTS: Competition: Definition, Characteristics, Types and Importance! Competition and cooperation are of the most important factors in the modernized society. So, the answer is clearly Cooperation is more important than competition. Competition, in another word, emphasize the advantage of every people in the group with the same intention. Antitrust laws are “pro-competition,” intended to ensure that businesses have the ability to compete in an open marketplace where they can try to provide goods and services of higher quality at lower prices. Advertisements: competition: Definition, Characteristics, Types and Importance important than competition free. Young to compete human society all other forms of interaction most important factors in group. Around them these include economies of scale, the ability of people to manipulate markets in different ways, with... Around them that open competition plays in keeping markets free and fair can never be overstated basic to all forms. 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