Competition, n.
Etymology: [L. competitio. See Conpete.]
The act of seeking, or endevearing to gain, what another is endeavoring to gain at the same time; common strife for the same objects; strife for superiority; emulous contest; rivalry, as for approbation, for a prize, or as where two or more persons are engaged in the same business and each seeking patronage; -- followed by for before the object sought, and with before the person or thing competed with. Competition to the crown there is none, nor can be. Bacon. A portrait, with which one of Titian's could not come in competititon. Dryden. There is no competition but for the second place. Dryden. Where competition does not act at all there is complete monopoly. A. T. Hadley.
Syn. -- Emulation; rivalry; rivalship; contest; struggle; contention; opposition; jealousy. See Emulation.
Shades of meaning
Fernald has no entry of its own for competition; he lists it under ambition.
Where he writes about it:
Competition is the striving for something that is sought by another at the same time. — from ambition
Emulation regards the abstract, competition the concrete; rivalry is the same in essential meaning with competition, but differs in the nature of the objects contested for, which, in the case of rivalry, are usually of the nobler sort and less subject to direct gaging, measurement, and rule. — from ambition
We speak of competition in business, emulation in scholarship, rivalry in love, politics, etc.; emulation of excellence, success, achievement; competition for a prize; rivalry between persons or nations. — from ambition
Competition may be friendly, rivalry is commonly hostile. — from ambition
Opposition is becoming a frequent substitute for competition in business language; it implies that the competitor is an opponent and hinderer. — from ambition