CONSIDERATIONS REGARDING THE CONCEPT OF COMPETITION

Abstract

Competition represents a fundamental aspect of the economy, involving a competitive relationship among economic agents to maximize their profit. In a competitive market, companies strive to attract customers by offering similar or substitutable products and services. This dynamic stimulates innovation, improves product quality, and promotes economic efficiency. Competition is essential for providing a greater variety of options to consumers and for limiting the market power of individual entities, having a profound impact on markets and society as a whole.