Final answer:
The Cold War is an example of an economic conflict and military tensions between longtime rivals, similar to long-term business rivalries marked by strategic competition and attempts to limit intense competition.
Step-by-step explanation:
A rivalry between two companies that have been in business a long time is described as the economic conflict and may involve military tensions. An example of this is the Cold War, a period marked by high tension and competition between the Soviet Union and the United States. The term 'Cold War' specifically refers to the fact that while there was no direct military engagement between the two superpowers, their conflict was manifested through various indirect means, including economic pressures and proxy wars.
Similarly, in the business world, long-term rivalries between companies can lead to aggressive competitive practices, such as price wars and attempts to establish oligopolies. This type of rivalry is often seen in industries where a few firms dominate, leading to strategic alliances or underhand tactics to limit competition. A historical example of such practices can be seen in the case of the French detergent makers, where attempts to 'clean up the market' eventually led to a breakdown of their arrangement due to the firms' desire to maximize individual profits.