2. Competition
• 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.

3. Types Of Competition
• MONOPOLY
• OLIGOPOLY
• MONOPOLISTIC COMPETITION

4. Advantages Of Competition
• Competition helps to bring perfection
• Greater productivity.
• Better quality of work.
• Delivery of work on time. In other words
deadlines are met.
• A work-oriented staff.
• Higher profits.

5. Disadvantages
• Too much stress.
• Work pressure affects health of employee.
• The employee may not be too sympathetic
towards his or her employees as he or she may
be interested only in results.
• Team spirit may get affected as each employee
would be suspicious of the other person’s
motives.
• Unhealthy competition. One employee bringing
down another employee through malpractices in
order to supercede the person.

6. Criteria Of Competition
• Companies may submit more than one
application
• Judging Criteria
• >Entry Form