BEGINNER

Competition

FEBRUARY 22, 2013

Competition occurs when two or more individuals seek the same finite ends. Scarcity of resources makes competition for them inevitable. In a capitalist system where individuals own property and cannot resort to coercive means, individuals must produce and trade goods and services in order to achieve their ends. Competing producers attempt to provide consumers with the best products at the lowest price in order to earn profits. Competing consumers attempt to outbid one another for these goods and services. 

Paul Cwik - On Competition

 

Israel Kirzner - Entrepreneurship and the Market Process

Related Multimedia

MULTIMEDIA - VIDEO

Competition and Monopoly

FEBRUARY 14, 2011

MULTIMEDIA - VIDEO

Isaac Morehouse on Competition and Entrepreneurship

DECEMBER 14, 2010

MULTIMEDIA - AUDIO

Competition and Entrepreneurship

JULY 13, 2010

MULTIMEDIA - AUDIO

The Meaning of Competition

JUNE 10, 2010 by TSVETELIN M. TSONEVSKI

MULTIMEDIA - VIDEO

Benjamin Rogge on Competition and Monopoly

FEBRUARY 18, 2010

MULTIMEDIA - VIDEO

Monopoly and Competition

SEPTEMBER 17, 2009

ONLINE EVENTS

FEE offers live online events for people new to the economic, ethical, and legal principles of a free society.

CURRENT ISSUE

July/August 2014

The United States' corporate tax burden is the highest in the world, but innovators will always find a way to duck away from Uncle Sam's reach. Doug Bandow explains how those with the means are renouncing their citizenship in increasing numbers, while J. Dayne Girard describes the innovative use of freeports to shield wealth from the myriad taxes and duties imposed on it as it moves around the world. Of course the politicians brand all of these people unpatriotic, hoping you won't think too hard about the difference between the usual crony-capitalist suspects and the global creative elite that have done so much to improve our lives. In a special tech section, Joseph Diedrich, Thomas Bogle, and Matthew McCaffrey look at various ways these innovators add value to our lives--even in ways they probably never expected.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION

img E-mail Subscription

VIEW PRIVACY POLICY