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hi there lets spend a few minutes having a think about how competition the concept of competition affects businesses operating in a market lets start by thinking about what do we mean by competition businesses operate in markets and in each market there is rivalry between these different sellers or businesses each of whom youre trying to compete to grab their share their slice of the available demand which translates into sales and profits hopefully and this competition this rivalry can be pretty intense in fact it often is pretty intense with existing uh competitors in the market and also businesses trying to enter the market to have their fair share so thats what we mean by competition its rivalry between sellers in a market and that competition can be direct so for example businesses in the market that sell essentially selling the same product so for example uh pizza delivery businesses operating in the pizza delivery market they are direct competitors arent they competing fo