Competition is the effort of two or more parties

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Competition is the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms. It produces gains for the whole economy and allows consumers to weigh all of their options. The use of competition law, which maintains market competition by limiting anti-competitive conduct helps to diminish the likelihood of competition diminishing in the economy. Competition law helps to restrict cartels, predatory pricing, and supervises mergers and acquisitions. A fair and competitive market provides lower prices and offers more products, whereas if there was anti-competitive conduct, there would be less reason for a company to create new products, providing for a non-expansive marketplace and economy. Those who are against laws of prohibiting anti-competitive conduct are firm believers in laissez-faire capitalism and see all forms of ant-competitive behaviour as forms of competition that benefits consumers. Laissez- faire is an environment in which parties are free from state intervention, including restrictive regulations. Arguments against prohibiting anti-competitive conduct state that the laws are ineffective and counter-productive. Critics believe the laws do more harm than good and that if a superior business drives out a competitor, it does not mean competition has ended. Others also argue that it is very difficult to determine when a company goes from being competitive to engaging in anti-competitive practices. Many people see the economy as survival of the fittest and it is not fair to take away the rights of a company that may have the ability to become extremely successful.
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