
der Wettbewerb
contest
An event or situation in which several people or groups try to be better than the others in order to win something.
Sie hat den ersten Preis im Fotowettbewerb gewonnen.
She won first prize in the photo contest.
competition / contest
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contest
An event or situation in which several people or groups try to be better than the others in order to win something.
Sie hat den ersten Preis im Fotowettbewerb gewonnen.
She won first prize in the photo contest.

competition
The competition between companies in the market. This economic rivalry influences prices, quality, and innovation.
Der freie Wettbewerb zwischen den Anbietern sorgt für niedrigere Preise für die Kunden.
Free competition among providers ensures lower prices for customers.
The word is made up of 'Wett-' (from Wette, Wettkampf — bet, competition) and '-bewerb' (from bewerben — to apply). So it describes a situation in which you 'apply' for a victory by taking part in a competition.
Beim jährlichen Schulwettbewerb treten Teams aus allen Klassen gegeneinander an.
At the annual school competition, teams from all classes compete against each other.
When referring to an event, you 'an einem Wettbewerb teilnehmen' (take part in a competition). You can 'win' or 'lose' a competition, and an organization can 'einen Wettbewerb ausschreiben' (officially announce/launch a competition).
Unsere Firma hat an einem internationalen Design-Wettbewerb teilgenommen.
Our company took part in an international design competition.
In the economic sense, people say that companies 'im Wettbewerb stehen' (are in competition) or 'in Wettbewerb treten' (enter into competition). Adjectives like 'hart' (tough), 'fair' (fair), or 'frei' (free) describe the type of competition.
Kleine Läden stehen oft in hartem Wettbewerb mit großen Supermarktketten.
Small shops are often in tough competition with large supermarket chains.
You can recognize the meaning from the context: if it is about sports, art, or an event with prizes, it usually means a concrete contest. If you are talking about companies, markets, and prices, it refers to economic competition.
Der Wettbewerb um die besten Talente ist in der IT-Branche sehr intensiv.
The competition for the best talent is very intense in the IT industry.
fight / struggle
Der Kampf and der Wettbewerb can both refer to several people competing for a victory. Kampf focuses more on the effort or combative intensity, while Wettbewerb refers to the competitive situation or the organized event. Use Kampf for a particularly hard-fought struggle and Wettbewerb for the format.

Der Wettbewerb um den ersten Platz fand am Samstag statt.
The competition for first place took place on Saturday.
Im Finale war der Kampf um den ersten Platz besonders hart.
The fight for first place was particularly fierce in the final.