Competition is the result of several companies offering the same or similar products or services. When this occurs, those products or services are offered for sale at low prices.
Perfect competition is not the only market structure, however. Other possible market structures feature few or only a single supplier, as in the case of a monopoly. The structure of the market and the behaviour of the market participants determine the market result.
The aim of competition policy is to promote competition and to prevent the abuse of market power. Digitization, in particular, has brought new market structures and thus also placed new demands on competition policy.