Final answer:
Competition often occurs on the basis of race, among other factors such as class and skill, which has been true historically and remains relevant in contemporary society, especially in the context of business and employment.
Step-by-step explanation:
Competition in various aspects of society can indeed take place on the basis of race, in addition to other factors such as class, skill, gender, etc. The historical context of race in the United States, stemming from the colonial period and the establishment of the slave economy, has deeply influenced perceptions and actions in numerous domains, including the marketplace and employment sectors. The market revolution did bring about significant social and economic changes, paving the way for the development of different job markets and affecting the dynamics of competition.
Concerning employment, a business may find that diversifying its workforce by hiring more women and minorities is not only a move towards greater equality but also a practical decision to expand production and compete effectively. This is because diversity can enhance the skill set and problem-solving capacities within a firm. Thus, despite the prevalence of discriminatory practices, there are economic incentives that can drive firms to adopt more inclusive hiring practices, particularly in competitive markets where every expansion and optimization is crucial for success.