/ˌkɒmpəˈtɪʃən/ – noun
Definition: 1. sự cạnh tranh;
2. (Scot) sự tranh chấp giữa các chủ nợ, sự mâu thuẫn về các yêu cầu của chủ nợ.
A more thorough explanation: Competition refers to the activity or process of competing with others in a market or industry to achieve a desired outcome, such as gaining customers, increasing market share, or maximizing profits. It involves rivalry between businesses or individuals seeking to offer goods or services that are similar to or better than those offered by others in the same market. Competitive practices are often regulated by laws and regulations to ensure fair and open competition and prevent anti-competitive behavior.
Example: The company faced stiff competition from its rivals in the market.