Question

In which of these situations might competition be seen as a negative?

when the competition is taking place in a capitalist society
when the competition causes some businesses to fail
when the focus of the competition is on what may be seen as a public utility such as mass transit or utilities like electrical power
when the competition affects a high-tech industry

Answer 1

Competition might be seen as a negative in the situation where it causes some businesses to fail. While competition can encourage innovation, lower prices, and improve quality, it can also lead to negative consequences such as the failure of businesses, loss of jobs, and market instability. In some cases, competition can also result in a lack of cooperation and collaboration among businesses, leading to a "winner takes all" mentality. When the competition causes some businesses to fail, it can have negative effects on the economy and society as a whole, such as unemployment and reduced consumer choice. Therefore, in this situation, competition may be viewed negatively.