Competition

Competition characterises economic or sporting activity whereby two or more
individuals or groups strive antagonistically against one another for market
share or for quality or for reputation.

Seen as a pillar of capitalism in that it may stimulate innovation,
encourage efficiency or drive down prices, competition may equally lead to
wasted (duplicated) effort and to increased costs (and prices) in some
circumstances. Similarly, the psychological effects of competition may
result in harm as well as good.