COMPETITION--inside and out.

The article discusses the complexity of modern competition and mentions the opposing views of economists who study competition and business executives who practice it. Ten aspects of intensely competitive situations from a business perspective include uniformity of pricing among sellers, product differentiation, selective distribution, market raiding, customer sharing, and vertical integration. These ten aspects are viewed as signs of a monopoly by economists. Topics include big business, countervailing power, perfect competition, potential for collusion in oligopolies, the concept of "the industry," and dynamics of monopoly.