competition · ​. [countable] an event in which people compete with each other to find out who is the best at something. a design/an art/a talent competition · ​.

a situation in which people or organizations compete with each other for something that not everyone can have

There is one meaning in OED's entry for the verb competition. See 'Meaning & use' for definition, usage, and quotation evidence. This word is now obsolete.

used to describe a situation in which people or organizations compete against each other. Extra Examples a fiercely competitive sport.

used to describe a situation in which people or organizations compete against each other; competitive games/sports.

[intransitive] to take part in a contest or game. The games were an outstanding success, with almost 2 400 athletes competing. compete in something He's ...

competitor · ​. a person who takes part in a competition. Over 200 competitors entered the race. the youngest competitor in the event · ​. a person or an ...

(of different products, services or businesses) each trying to get the attention of possible customers and be more successful than others.

a situation in which someone is trying to win something or be more successful than someone else. Competition for jobs is intense.

(in chemistry) rivalry between two or more different, but often similar, chemical species for a specific biochemical system, e.g. a receptor, enzyme, ...