| 单词 | competition |
| 释义 | competition The situation when anybody who wants to buy or sell has a choice of possible suppliers or customers. With perfect competition there are so many suppliers and customers, with such good contact between them, that all traders ignore the effects of their own supplies or purchases on the market, and act as price-takers, able to buy or sell any quantity at a price which they cannot influence. Such intense competition is rather unusual in real life. The more usual condition is monopolistic or imperfect competition, with a limited number of buyers or sellers. In this case buyers or, more usually, sellers realize that the amount they can trade is affected by the price they offer. With monopoly there is only one seller, but this too is unusual. Monopolistic competitors have some monopoly power, but this is limited in the long run by potential competition from possible entrants to a market as well as actual competition from current rivals. In the case of one-off goods or services, competition takes the form of competitive tendering, where possible suppliers submit bids and the customer chooses one. This will be the cheapest, other things being equal, but buyers must take account of their confidence that bidders have the technical competence and financial resources to be able to deliver the goods and services they promise. Competition for markets is affected not only by price, but by various forms of non-price competition. These include quality, delivery dates, guarantees, reliability, availability of credit, and after-sales service. competitiveness is the ability to compete. Where firms in different countries are competing for markets, devaluation can help a country's firms. If their own currency falls, they have the choice of offering lower foreign currency prices, or of maintaining their price in foreign currency, and using the larger margin over costs to improve quality. competitive devaluation occurs when different countries in turn try to help their firms compete by devaluing. While most economists welcome competition as a stimulus to cost reduction and quality improvement, many businessmen and trade unionists protest that competition is liable to lead to shoddy goods as prices are cut, and to depressed incomes for producers which may impair their ability to finance innovations. The term cut-throat competition expresses the view that there are dangers in too intense competition. ‘Unfair competition’ is complained of when rivals compete by methods the complainant is unable or unwilling to match. If foreign firms receive subsidies from their governments which your own refuses to provide, or are allowed to break environmental rules while your own government enforces them, or rival firms break health and safety rules which you have to obey, competition is apt to feel unfair. See also: atomistic competition, Bertrand competition, Cournot competition, cut-throat competition, imperfect competition, monopolistic competition, non-price competition, perfect competition, potential competition, and unfair competition |
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