Wettbewerb

“Wettbewerb” is a German term that translates to “competition” in English. It refers to a situation in which individuals, groups, or organizations engage in a contest or rivalry to achieve a goal, often involving the comparison of performance, quality, or value. This can occur in various contexts, such as economic markets, sports, academia, and social activities. In economics, competition is crucial as it drives innovation, efficiency, and improved quality of products and services, benefiting consumers by providing them with more choices and better prices. In a broader social context, Wettbewerbe can foster personal development and motivation, encouraging participants to enhance their skills and capabilities.