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　　Competition is not only good in itself, it is the means by which other basic American values such as individual freedom, equality of opportunity and hard work are protected.

　　结构：全句有3个谓语动词：is, is和are protected。其中主句的是：is, is。全句由两个有递进关系的单句构成。其中，which引导的是定语从句，修饰the means。句子可被拆分为：

　　1. Competition is not only good in itself.

　　2. It is the means.

　　3. Other basic American values such as individual freedom, equality of opportunity and hard work are protected by these means.

　　翻译：竞争不但本身就是好事，还是其他基本的美国价值观如个人自由，机会平等和勤奋工作等得到保护的手段。