Does competition make a worth or dearth?

To rear, a child is a development of his proximal domains (physical and mental capacity)
to revere decision-making abilities and provide an onset understanding of his environment and
self. Just like a market competition, one lone stronghold or business enterprise would never
develop without outside intervention nor tangential competition. With this scenario, the
economic policies are considered loose, and consumer advocacies, in terms of economic
awareness, is not well-observed. For instance, if a single company or enterprise sells a line of
smartphones, no definite price investment is given, as there is no preference on its raw inputs.
Many consumers will not be able to practice willpower and economic choice since no options
are available. On this case, an economy would likely suffer depression (a downturn economic
event) or lower gross income for the latter. However, if many companies sell different lines of
smartphones with competitive features and cutting-edge technologies, then it would be possible
that basic economic assumptions are disposed of. On this end, consumer behavior is predicted
on their preferences. The lifeblood of an economy is good, fair competition to build resilient
markets. An extent of this development gyrates on fair competition tactics to deliver good
marketing outputs and a positive consumer behavior. The question underlies, “Does
competition make a worth or dearth?” Well, at utmost rates, there are benefits and aftermaths
of competition. No solution is right, nonetheless whatever suits the scenario, then levying it
would compose a critical-hit ratio towards development. The benefits of this competition
upheave consumer rights and liberation while its aftermath strengthens business enterprises
and manages business-as-usual (profit-oriented) institutions. That is why it is imperative to
weigh a jurisdiction on both to balance the course of the economy.


read more The Struggle of Educating a Girl Child

Fair competition, at least, is the foremost agenda of the country. History tells that the
The Philippines was an economic fount of foreign investments drawn from the pre-Spanish era to
its post-modern agenda. It resulted in a civic privatization of most enterprises and sole
proprietorships in business investments. The Philippine government provided an offense to
equalize public and private domains. Believing that fair competition is an edge to grow an
economy, the government must reply to the need of upholding economic policies to limit
abuses of market power and predatory pricing; and provide economic opportunities for
emerging ones. After all, the government’s goal is to incentivize and institutionalize an
equitable market system towards an efficient production of goods and services.
In championing fair competition towards a proactive economic awareness, it is
important to view the benefits and the dark sides of the competition. One considered benefit is that
workers in private institutions will be able to receive salaries supported through a coherent
price floor, meaning higher than usual to support an average individual need (especially, the underprivileged
) since resources have lower costs while some business proprietors will be able
to establish a stable work management in the process. Competition will also ignite innovation,
technological enhancements and new breakthroughs in production methods and outputs. In
addition, it will revamp a greater pace for economic relations, either domestic or international.
Above all, in order to attain positive competition among cross-industry roles, the government
must secure a fair culture of competition. When the government sees the need to implement
new economic policies, cultural emergence and prominence in the society must be reflected to
better facilitate a healthy market traced in an observable cultural pattern. The dark side, on the
other hand, attempts to provide us enough information about what would happen if competition
is abused. Conventionally, productive and dynamic efficiency is an icing to the cake of
production. With greater efficiency comes fair competition and an equal opportunity for all.
Looming over the dark side of competition, cartels would emerge if surplus products are
assumed non-vertical to the requirements of the economy and thus, black markets can devour
normal market deviation. Cartels could cause harm to the consumers. Connor (2014) notes that
average long-run on several types of cartels is at 23 percent. This count supports the idea that
if no effective enforcements are provided, then it would indirectly affect market prices, and
theoretically will cause fluctuating inflation. An instance is Brazil’s gasoline station run by
cartels. Investigations underlying these cartels and what had happened in Brazil forged a set of
laws supported by the world market to ban these and paralyze a hidden economy which has
been in existence for years. This dark side of competition might surge over developing
economies because a drift loss of tariff and exchange costs will amputate the state’s economic
security and purchasing powers.

ASEAN, or the Association of Southeast Asian Nations, is a regional organization
founded on the belief that prosperity is gained through diplomatic support from its neighboring
countries. Exchange of services, goods and unrestrictive state values and security are the
supports that ASEAN forwards to its member-nations. ASEAN’s inception paved ways to
institutionalize a substantial roadmap towards prosperity to all of its citizens. Most of the
citizens of ASEAN believes that in order to attain it, the organization must target potential
stockholders and covert investments to flourish small and medium businesses and promote
locally produced goods and services which reflects the state culture and social landscape. The
Small-and-Medium Enterprises (SMEs) is a platform where local businesses are given
opportunities to expand their potential audiences and target population in a regional hub for
economic development. For instance, SMEs in the Philippines have catered products and goods
promoting individuality, personality and functionality, while impliedly initiating cultural
promotion and resuscitation.


read more Is Education still the answer?

The benefits and aftermaths of fair competition is left unequivocal or clear to discern,
however, one individual must be overt to champion economic prosperity at its best. As citizens,
we are tasked greater than our social roles and it is deemed much larger as to protect our
personal and economic interests. Fair competition reconciles an unfathomable set of strengths
and weaknesses that will lead to an enormous opportunity to develop but will also pose a threat
underhand. Working together, it will champion us towards our pursuit on sustainable living
and an efficient access to a larger network of opportunities.


Mark John Dayto
Climate Reality Project Philippines
Intern, International Affairs
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