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Generally, competition is very essential in a free market and without competition, there would be monopoly in the production of goods and rendering of services. And when there’s a monopoly, small business and start ups are destined to fail.
Without competition consumers would suffer terrible in the hands of greedy monpololists. When mobile phones were introduce in my country, the first and only mobile communication provider sold their simcards for about 60 dollars. Now we have about seven providers competing for a fair share of the market and the price is less than a dollar now.
But sometimes the benefits and beauty of open and competitive market is limited through the formation of trade unions and other pressure groups. With this they can determine the price of their goods and services, hence enjoying the benefits of monopoly. They sometimes lobby the government and influence them to make certain laws that harms the populace because of their selfish interest