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Competition is a rivalry between individuals, groups, nations, or animals, for territory, a niche, or allocation of resources. It arises whenever two or more parties strive for a goal which cannot be shared. Competition occurs naturally between living organisms which co-exist in the same environment. For example, animals compete over water supplies, food, and mates, etc. Humans compete for water, food, and mates as well, though when these needs are met deep rivalries often arise over the pursuit of wealth, prestige, and fame. Business is often associated with competition as most companies are in competition with at least one other firm over the same group of customers.

Competition may give incentives for self-improvement. For example, if two watchmakers are competing for business, they will hopefully lower their prices and improve their products to increase sales. If birds compete for a limited water supply during a drought, the more suited birds will survive to reproduce and improve the population.

Rivals will often refer to their competitors as "the competition". The term can also be used to refer to the contest or tournament itself. - source wikipedia

The History of Gambling

Gambling has existed since ancient times, and there is evidence that most cultures supported it in some form or another.

Implements associated with the practice of gambling have been found in ancient China sites dating back to about 2300 B.C. A pair of ivory dice made sometime before 1500 B.C. have been found in Egypt. In fact, writings mentioning gambling have been discovered on a tablet in one of the pyramids at Giza. Inhabitants of ancient India, Greece and Rome also practiced some form of gambling.

We find that gambling was so popular during the Middle Ages that some countries prohibited their soldiers from participating in games, since the gambling activities prevented them from carrying out their proper duties. King Henry VIII of England, for example, is said to have banned gambling when he determined that his soldiers were devoting more time to gambling and less time to working on drills and marksmanship.

Playing Cards

Playing cards may have developed in China, since the Chinese developed both paper and money made from paper. In fact, the Chinese are said to have come up with the practice of shuffling paper money about 900 A.D. This may have evolved into the practice of shuffling cards. Playing cards then apparently spread to the Mameluke Empire.  Since the Mamelukes were Muslim, they did not decorate their playing cards with human forms; instead, their cards were decorated with intricate designs.  When the cards made their way to the Mediterranean countries, card makers began distinguishing cards with the royal ranks of noblemen who frequented the royal court.  The French took out one of the men and added a queen card sometime in the 1500s. This "French Pack" of cards became the prototype of the 52-card deck we use today.

Lotteries

Lotteries are a popular type of gambling most often run by governments and local states. The betting consists of drawing lots (can be done in a variety of ways) for a prize. Lotteries have been a point of contention in some states and therefore are often strictly regulated in many. Some governments have been known to outlaw lotteries all together, while others endorse it and utilize income from them to fund government and education programs.

Lotteries are available in many types of formats and state lotteries are subject to the varying laws of the states that govern them. Prizes in basic lotteries can be fixed cash sums, fixed percentage of the amount of money raised through ticket sales, or goods. Because many of the more recent lotteries allow ticket purchasers to choose their own numbers, there is a possibility of multiple winners which can result in prize sharing.

 

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Merriam-Webster defines competition in business as "the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms". [2] Seen as the pillar of capitalism in that it may stimulate innovation, encourage efficiency or drive down prices, competition is touted as the foundation upon which capitalism is justified. According to microeconomic theory, no system of resource allocation is more efficient than pure competition. Competition, according to the theory, causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater selection typically causes lower prices for the products, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).