<b>Competition Situation in Lithuania From Theory to Practice</b> Competition is the competition between manufacturers, consumers and other economic actors for markets, goods and other resources. Competition occurs when, in a single sphere trade, production, distribution of goods or other activities, there are several entities engaged in the same activity. Article analyzes concept of competition, competition advantages and disadvantages, competition situation in Lithuania. competition, competitors. Competition advantages and disadvantages 52-55 Issue-6 Volume-3 Margarita Isoraite