Premium Essay

Is Competition Good

In: English and Literature

Submitted By rovinasd
Words 605
Pages 3
It seems that where people are, there is bound to be competition. The question is, is competition beneficial toward us? Does competition always bring out the best in people? Although competition does push us to excel, it does not always promise such beneficial results.

Competition can be seen in students going through education. It can be seen in sports between teams or between a few people. Competition is almost always seen between companies. Competition is everywhere. It can be harmful but it can also be quite beneficial.

The best example one can take is exams. Competition enhances the standards of each person. We look at those who have got higher marks and aim to beat that mark. It brings out the best in students and pushes them to do even better. However it can also discourage people. When someone just cannot cope with the competition and finds themselves failing all the time, he may lose hope in his self causing him to give up altogether. Different people have their own limits of competition. Some people thrive on the competition. It brings out their best potential and they do well even in extreme competitive situations. Why, we regularly call these people, “competitive people”? Some people just cannot deal with any competition at all and it may affect them badly and they may become de-motivated. It all depends on the level of competition each person’s personality can handle.

Nowadays, it is a growing trend for teachers to conduct their classes in a competitive style: using point awarding systems. In order to gain more points to eventually emerge winners, the students will have to further rack their brains and push themselves to think better and understand better in class. This way, there is only room for improvement each time because of the friendly rivalry. It will also foster closer bonds between the groups, thus promoting good cooperative skills....

Similar Documents

Premium Essay

Is Competition Good?

...Is Competition good? Competition is known as the act of competing. It is now a common issue that has been evolving in our society in the 21st century. Competition happens everywhere at any time. It will arise whenever two or more parties fight to strive for a goal that cannot be shared between one another. This particular goal includes basically everything on earth, for instance, money, land, power, and the list goes on. In my opinion, competition is certainly beneficial for everyone. It builds up our self-esteem and confidence, allows us to achieve the goals set in life as well as helping us to learn how to deal with successes and failures. First off, it is believed that human beings gain confidence and build up their self-esteem through competing with one another. Everyone has to go through a stage in life where some competition is essential for the development of self-esteem. With competition, everyone will try to do their best to not be wiped out by the rest. Therefore, if there is no competition, how can we actually improve? We may not know where we stand if we do not have competitors. This is the fact that they are able to prove to the others that they are capable of achieving something. Success will never come to us if we do not put in efforts to improve ourselves; competition makes it easier for us to achieve the goals we have set for. When we have competitors around us, we will always make sure that we are not left behind or defeated by...

Words: 267 - Pages: 2

Free Essay

Beauty Competition, Good or Bad

...3.Are beauty competitions a good or a bad thing? Destroying ourselves with beauty Sure you could say that beauty pageants are good by boosting self esteem but think of all the thing that the women do to get their bodies to look like that. Its revolting to see anorexic people who force themselves not to eat when they weigh less than 90 pounds saying "i'm so fat". It's sad to see people forcing eating disorders on themselves to look better. It's just not healthy. The Good and the Bad- #1 First things first, the process through which you become fit and worthy enough to enter a pageant is an absolutely rigorous one and teaches you a lot. As the contestants progress towards the pageant and the crown, the whole experience is mesmerizing and can be life changing. On the other hand, it is hard work and leave alone the physical demands, such a contest takes a toil on your mental state as well. That can be worse than the physical stress. The Good and the Bad- #2 Presenting yourself flawlessly and gracefully in front of the others, is a fantastic booster for your self-confidence. Furthermore, looking good, is another asset and habit you get into through such a contest. Well, a disadvantage is that you might start becoming too superficial and may give importance only to outer appearance rather than sensing the deeper meanings of things. The Good and the Bad- #3 A beauty pageant is not just about being rewarding for you as a person, but it is rewarding in the materialistic sense as...

Words: 550 - Pages: 3

Premium Essay

Xeco212 Maximizing Profits in Market Structures

...that wanted to enter the market. The level of competition exerts significant influence over the type of market structure that emerges and leads to what payoffs, if any, would result from entering that market. This paper will go into detail on the many distinctions between the different market structures, the obstacles to entering these markets, and how each type of structure maximizes profits. Markets are broken down into a few various categories. These categories are perfect competition, monopolies, monopolistic competition and oligopolies. An economist, citing economic theory, may express a preference to one type of structure based on the outcomes they can yield. The structure of each structure type is based on the traits of its business types. The attributes a business will display changes with the number of companies in that particular market. Management of prices, product types and entry barriers for new companies and market competition that do not depend on price are the attributes of a market. The capacity to control the prices of a company’s goods is price management. This is a critical element in market structure. Any company that can enjoy the benefits of a monopoly structure has ultimate price control for its goods. Those in a perfect competition have no control over their prices since they are controlled by competition and the consumer. Oligopolies and those companies in monopolistic competition have some control over their prices. ......

Words: 1222 - Pages: 5

Premium Essay

Market Structure

...the number of firms that are competing in a particular market; along with the ways in which the companies within these markets are alike or different and the barriers to entry that exist for these given market. The level of rivalry or competition also plays a powerful role in what kind of structure emerges in a given market. This paper will focus on competitive markets, monopolies, and oligopolies by detailing the distinctions between them such as how is price and output is determined to maximize profit, analyzing their barriers to entry: and what role each market structure plays in the economy. Price control is different in each market structure and is essential to know for maximizing profits. A company ability to control the price of its goods and services is called price management. Businesses that operate in a perfect competition market structure have no control over the price of their goods and services. Companies that have the ability to control the price of the products or services are companies that have the benefit of operating under a market structure called monopoly. Organizations that run under an oligopoly enjoy the same control over price as monopolistic competition or monopoly market structure. The reason why prefect competition does not enable a business to have control over its prices is because in this kind of market structure, there are many business selling similar products and services, with few differences. If one business want to raise its......

Words: 1161 - Pages: 5

Premium Essay

Perferct Competition

...Perfect Competition Perfect competition is a problem that is emerging in a market in which buyers and sellers are informed about all elements of monopoly that are absent and the market price of a commodity is not control by individual buyers and sellers. Perfect competition is simply looked as a market structure where competition is at its greatest possible level. According to Kirzner (2000), “Perfect competition therefore came to mean the situation in markets where each and every participant lacks any power whatever directly to influence product price or product quality”. Perfect competition is used to compare other and real-life market structures. A real life market structure such as agriculture is the industry that closely resembles a perfect competition. The four key characteristics of perfect competition are a large number of small firms, identical products sold by all firms, perfect resource mobility or the freedom of entry into and exit out of the industry, and perfect knowledge of prices and technology. These four characteristics basically describes that a perfectly competitive firm does not have any control over the market. A large number of small firms that produce identical products have a large number of perfect substitutes that exist for the output produced by any given firm. This means the demand curve for a perfectly competitive firm's output is perfectly elastic. Freedom of entry into and exit out of the industry means that capital and other resources are......

Words: 1166 - Pages: 5

Premium Essay

Versus

...Versus: Competition is a Child’s Best Competitor Life is not fair. One of the most overused phrases still to this day. That phrase is overused for a reason. Life really is not fair. During early adolescence we are taught to share your things, be fair, and that everyone is equal. How nice this American society would be if those virtues of being equal were true, but sadly it is not. As someone’s cognitive abilities develop and they start to assess their abilities, they automatically compare them to others, sometimes not even on purpose. As we grow up we learn that this society is a “dog-eat-dog” world, and if people do not possess the necessary skills and characteristics that one needs to get ahead or be on top, other people who are equipped with those essential skills will not even think twice about surpassing those who are lacking. By the time some people realize that America is dog-eat-dog society, they haven’t been prepared to handle competition correctly. The mere thought of a little competition scares the hell out of most people. That first loss that is handed to them during adolescence where their winning classmate throws up the “L” shape on their forehead and yells out “loser!” is almost unbearable. They completely bomb that group interview and are outshined by others in the same room where they have to openly compete for a spot in a company. Almost your entire life you have to compete either with yourself or others. Competition is very beneficial for adolescents......

Words: 1535 - Pages: 7

Premium Essay

Sdsdf

...we will describe the following terms: 1. Market definition. 2. Structure of the market. 3. Perfect competition 4. Imperfect competition. MARKET DEFINITION: When we go to define the term o market we can say that it is the convergence of views between the seller and buyer, and divided the market into three big markets: the commercial market, market default and markets in the world economy, which is itself subdivided into markets other, and in terms of destination and economic concept, I mean any groups of people bound together by nothing specific commodity and any place characterized by the swap on a commercial scale. The market divides into different categories according to the purposes for which they performed , in terms of continuity may be permanent as a market securities, or temporary as markets villages and exhibitions , and in terms of breadth may be local as markets cities, or universal as a market of sugar, and in terms of the types of goods traded divided markets divisions of various for each commodity or group of commodities market , and the real estate markets , and foreign exchange markets , and markets for agricultural crops such as wheat , rice , and markets industrial products such as solid , and other machinery . In terms of the purpose of the use of commodity to market goods production and the consumer goods, and in terms of the quantities traded in the market to the...

Words: 1444 - Pages: 6

Free Essay

Indias Demographic Dividend

...always thought that competition is an excellent way to motivate kids. Many times, I made contests in the class, competitions, etc. I always found it that extra bit more fun when I was a student, if I had to compete against some other students.Recently, however, I find that competition is not for everyone. Most students really enjoy the sense of play, the sense of fun in beating or trying to beat their opponent in a silly competition, but for some kids competition evokes the exact opposite effect. Some students just shut down - they don't see the point of playing when they have no chance of winning. I decided to make a list of things I think are good and bad (my pros and cons) about competition in the class. And then accordingly, I would decide whether it's a good idea for a given situation or not such a great plan for the lesson. Pros: 1. Most kids really enjoy the "game" aspect of a competition. Fun = good for learning. 2. This is a great way to get the students to actively participate in the class. They get really involved, and just from the involvement they learn more than they would have by sitting and just passively listening. 3. Great for the bright and fast kids. If they're usually on the border of boredom, a game / competition will get them motivated to start thinking again. 4. Lets students have a sense of success. 5. If done in groups, can really develope comradeship with the other team members. 6. Some students work best under pressure. Competition is the......

Words: 879 - Pages: 4

Free Essay

Economics Learning Outcome 3

...Market failure is caused by the market failing to provide the type or quantity of goods and services wanted by consumers. This means that resources have not been allocated efficiently. This could be because of four factors: imperfect competition, external costs and external benefits are ignored (externalities), public goods are not provided, or merit goods are not provided in sufficient quantity. Imperfect competition From a business’s point of view competition is bad as it drives down the price of the product they are trying to sell but for the economy as a whole it is a positive thing as many customers are having their wants and needs met. Imperfect competition can cause market failure through monopoly, a monopoly is a singular supplier of a product which can lead to exorbitant pricing or inferior products as consumers have no other options. Another cause of imperfect competition is an oligopoly which is very few dominant suppliers providing a product giving one supplier the opportunity to drive up the price allowing the other suppliers the freedom to do the same. An oligopoly also increases frequency of cartels. A cartel is a mutual agreement between suppliers and possibly producers to keep prices at a set price leaving consumers with no option to shop around for a better price. Externalities An externality is something that is a by-product or consumption which affects a third party externally. Externalities can be positive or negative. Positive externalities......

Words: 1114 - Pages: 5

Premium Essay

Differentiating Between Market Structures

...respect to its competition. There exist several different market structures like perfect competition, oligopoly, and monopolies among others. These markets all produce different types of goods or services, as public and private goods as well as everyday and collective goods. Firms operating in these different market structures utilize the labor market in very different ways because of very divergent uses of energy in each market structure, so it is important for a firm to use the labor market equilibrium principles to their advantage to efficiently cover the costs of production and maximize profits. In economics a good is something defined as any object, service or right that increases utility, directly or indirectly. Goods are further broken down into public and private goods. A public good is a good that can be used simultaneously by many users, which is called non-rival, and people who have not paid for the good cannot be excluded from its utility, which in economics is call non-excludable. Together this means that the consumption of a public good by an individual does not affect the availability of that good to anyone else, which is called being non-rival and non-excludable. It’s obvious to see, however, that a truly non-rival and non-excludable good can’t exist; economists just look at the goods that come close to the definition of a public good. A private good is the opposite and so it is considered to be excludable and rivalrous. This means that the good can......

Words: 1749 - Pages: 7

Premium Essay

Market Failure - Economics

...Q1. Market failure occurs when resources are not allocated in the most efficient way to achieve highest possible social welfare. In a free market society certain goods and services would not be provided by the private sector as they would not be profitable enough for the companies producing them. As a result, society as a whole would suffer. The government steps in to provide the goods and services required by society that private firms will not provide. These public goods include street lighting, emergency services and public spaces eg parks. These services are paid for by the government which collects the funds through taxation. Merit goods are also funded or subsidised by the government. These are goods or services which people would generally not choose to pay for or think to save for which the government thinks are important ie education, libraries, NHS medical treatment. In the UK every child has the right to an education but many households would not be in a position to pay for it. Likewise, before all prescriptions were free in Scotland, there were still some who qualified for free prescription which were funded by the government ie low income households including those in receipt of certain benefits, elderly people of pension age, and children under the age of 16 or 16 and 17 year olds who were still in education. The presence of externalities can contribute to market failure where the actions of a firm leads to a greater social cost ie the presence of lead in......

Words: 1051 - Pages: 5

Premium Essay

Monopolistic Competition in the Retail Industry

...Monopolistic Competition in the Retail Industry The retail industry is a prime example of the modern version of Chamberlin and Robinson’s model of Monopolistic Competition (Grewal, 441). The retail industry consists of vast markets with different brands and goods of one common goal, to sell their products. To cater to this rapidly changing market many large scale retailers are findings ways to make their product more appealing to the public in hopes of gaining market share over their competition. As prices rise, customers are forced to buy substitutes of well-known brand names or alter their preferences. This results in the phenomenon known as monopolistic competition. Monopolistic competition is defined as the result of many firms competing for the same customers in a particular market differentiating their products. If a firm in a purely competitive market can differentiate its product or service, it becomes a part of the monopolistic competition market. Monopolistically, markets are dominated by the following trends: the demand curve is down-ward sloping, no major barriers to entry or exit, profit maximizers, make up the large majority of advertisers, specialize in product differentiation, and each company is free to set their own price and level of output. Due to the retail industry having a large number of firms and competition, there are three major implications of the retail industry that dictate whether a product or brand will succeed. The first implication is how...

Words: 986 - Pages: 4

Free Essay

Soy-Dri

...Should youth 11 years old and younger be exposed to competition, i,e, scoring? Competition can be good for children. It can help children develop healthy attitudes about winning and losing. Children are not born with the natural urge to compete. This is a learned skill and behavior. Competition usually starts at about five years old. Competition can encourage growth and push a child to excel. Competition can also be very rough for a young child. There must always be a winner and a loser, but young children sometimes just can’t deal with losing. The question is, can a young child handle defeat and at what point do you no how much a child can take? Losing is a serious business, especially for a child who really wants to win. Winning, losing, or playing against others has little or no meaning for children under the age of seven. They are more concerned about the rules of the game and how the games are played. They often break the rules, because they can’t remember .By the age of eight, children can follow rules and understand what it really means to win or lose. In 2001, a survey was conducted by Sports Illustrated for kids. The survey found that seventy percent of children quit organized sports by the tender age of thirteen. They said that they were no longer having fun. Often this happens because referees, coaches, and parents are continued more caught up in the competition than the children. The focus should not primarily be on winning or...

Words: 1117 - Pages: 5

Premium Essay

Market Structure

...Learning Team C Reflection: Market Structure Team C ECO365 December 17, 2012 Blake Bennett Learning Team C Reflection: Market Structure 3.1 Compare various market structures and their characteristics. Perfect competition Monopoly Monopolistic competition Oligopoly Example organization Old Navy, Belk’s, Forever 21 Standard Oil Wal-Mart, Lowe’s, Sam’s Club Delta Airlines, United Airlines, OPEC Goods or services produced by the organization Identical to competitors No close substitutes, which allows for the monopoly to control the supply and market. Competitors create different products or goods. Can produce either differentiated or identical products Barriers to entry None Very High No barriers to enter or exit the marketplace High barriers of entry Number of organizations Many, to create competition One large one single firm Many, to create competition Few large firms that are interdependent Price elasticity of demand Price elastic Price inelastic Price more inelastic if the firm produces different goods from its competitor, and elastic if similar products are produced. The firm has less control over the price it can charge for output. Price is located somewhere between competitive and monopolistic pricing, but can vary depending on interdependence with among competitors. Is there a presence of economic...

Words: 859 - Pages: 4

Free Essay

Effectiveness of Monopolistic Competition and Oligopolies

...Evaluate the effectiveness of monopolistic competition and oligopolies in meeting the needs of producers and consumers. A market is a place where buyers and sellers meet to exchange money for goods and services. There are four market structures; perfect competition, monopolistic competition, oligopoly and monopoly. Each structure of market operates in their own ways with each with their own characteristics; each structure has its own number and size of the firms, the level of the competition, product differentiation and difficulty of entering new firms into the market. The two similar structures are monopolistic competition and oligopolies; although they are similar they still operate quite different to each other. Monopolistic competition is defined as the structure with many small firms selling products of similar kind, therefore lots of choice and lots of range which means that there are lots of substitutes. Due to the fact that there are lots of substitutes price plays an important role; if a firm has established some sort of brand name or store name it will be able to charge a slightly increased price, but yet a very high increase in price will result in decrease of its market share. As firms have a very limited control on price to gain more consumers firms are involved in strong non-price competition of quality, advertising, packaging, promoting brand names, etc… To enter into a monopolistic market is relatively easy as there is no established market. Examples of......

Words: 608 - Pages: 3