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Leonardo da Vinci competed with Michelangelo, and the world benefited from their achievements.  In math and physics, Isaac Newton competed with Leibniz and a river of accomplishments flowed.  Sports rivalries are famous also for bringing out the best in each side.

Leonardo da Vinci competed with Michelangelo, and the world benefited from their achievements.  In math and physics, Isaac Newton competed with Leibniz and a river of accomplishments flowed.  Sports rivalries are famous also for bringing out the best in each side.

In business, it is the competition that brings out the best service, highest quality goods, and lowest prices.  Wal-Mart competes with Target and K-Mart.  Federal Express competes with UPS for shipping services.  Phone companies compete with either for cell phones and home service.  Television stations compete with each other.  Fox News competes with CNN.  Politicians compete with each other to win elections.  And so on.

In business, it is the competition that brings out the best service, highest quality goods, and lowest prices.  Wal-Mart competes with Target and K-Mart.  Federal Express competes with UPS for shipping services.  Phone companies compete with either for cell phones and home service.  Television stations compete with each other.  Fox News competes with CNN.  Politicians compete with each other to win elections.  The dictionary definition of the "free market," which was first used in 1907, is "an economic market operating by free ''competition''."<ref>Merriam-Webster's Collegiate Dictionary (10th Ed. 1994).</ref>

We all think we know what "competition" is, but can we define it precisely?  Here's one attempt:  "competition is the rivalry by people or companies for achievement, success, customers, attention or praise."  Not all competition is good:  competition for praise could land the winner in the pitfall set forth in the Bible:  "and the first shall be last, and the last shall be first!"

We all think we know what "competition" is, but can we define it precisely?  Here's one attempt:  "competition is the rivalry by people or companies for achievement, success, customers, attention or praise."  Not all competition is good:  competition for praise could land the winner in the pitfall set forth in the Bible:  "and the first shall be last, and the last shall be first!"