It is not a necessary evil, but rather an important part of the business ecosystem. So, the answer is clearly Cooperation is more important than competition. It is elementary in the sense that it is basic to all other forms of interaction. The Importance of Competition Missouri and federal antitrust laws protect competition. Competition, especially in a free market economy, is a good thing for Americans. "I believe that part of developing healthy competition is that children learn their most important competitor is their self," says Dr. Gunn. Competition in school and sports is also a good thing as it helps kids get ready for real life. Competition and cooperation are of the most important factors in the modernized society. It was consequently asserted that if nature is dominated by conflict this must also be true of human nature and human society. Though it seems clear, the world would probably be far less interesting if there wasn't any competition at all. These include economies of scale, the ability of people to manipulate markets in different ways, externalities, and many other factors. Cooperation integrates the wisdom of several people so that the project may be completed faster and better. … Antitrust laws are “pro-competition,” intended to ensure that businesses have the ability to compete in an open marketplace where they can try to provide goods and services of higher quality at lower prices. Each individual is involved in countless ways of which he is generally unaware in a vast web of competitive relationships. In fact, competition can be an effective tool for growing and improving your business. On the other hand, competition may be found so important in adult life, that a society especially educates their young to compete. It has become, in some ways, synonymous with greed, envy, and narcissism. Competition is an inevitable part of the business world for businesses of any size. Don’t believe it? Competition seems to arise when there is perceived scarcity, both in nature and society. Business is a … ADVERTISEMENTS: Competition: Definition, Characteristics, Types and Importance! Sports teach kids important values that they can carry through any challenge in life, such as discipline, time management, work ethic, aggression, competitive edge, attitude and strength. Competition is an elementary, universal and impersonal form of social interaction. The role that open competition plays in keeping markets free and fair can never be overstated. Unrestrained and deregulated competition is the most evident and obvious solution to many of the economic vices, crises, and impediments faced by a growing number of countries today. Competition ensures the best rise to the top and elevate the people around them. Perfect competition is impossible for a number of reasons. Competition, in another word, emphasize the advantage of every people in the group with the same intention. 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