The existence within a market for some good or service of a sufficient number of buyers and sellers such that no single market participant has enough influence to determine the going price of the good or service. opposite of monopoly.

Use competition in a sentence

There is a massive amount of competition due to all of our local competitors offering unbeatable prices, which is why we will now offer price matching.

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Competition between fast food chains McDonald's and Burger King has been long standing, when one comes out with an item the other comes out with a more updated version trying to out due its competitor.

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Through careful negotiation with their suppliers, Walmart has reduced the competition in areas it has built stores by driving others out of business with their low prices.

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