Diamonds 3 — The Modern Diamond Market Flashcards
By 2004, more than 90 percent of manufacturing for the diamond market was done in
A. India. B. Israel. C. China. D. South Africa.
A. India.
Which diamond mine’s huge production influenced the world market in the late 1980s?
A. Ekati B. Argyle C. Jwaneng D. Kimberley
B. Argyle
A bourse is a(n)
A. agreement to buy on credit. B. diamond buying and selling club. C. financial arrangement between miners and cutters. D. disclosure that a parcel of diamonds has been treated.
B. diamond buying and selling club.
Because the Australians believed the CSO’s marketing favored large stones over smaller ones, they
A. abandoned diamond mining. B. discarded small, brown diamonds as mine waste. C. turned to India for help in marketing their diamonds. D. aggressively promoted jewelry set with their own tiny gems.
D. aggressively promoted jewelry set with their own tiny gems.
The involvement of a business or industry in all aspects of its product’s market is called
A. best practices. B. blanket marketing. C. electronic retailing. D. vertical integration.
D. vertical integration.
One of the changes that resulted from De Beers’ strategic review in 1999 was that De Beers
A. stopped advertising diamonds. B. doubled its advertising budget. C. discontinued its sightholder program. D. changed the name of the CSO to the DTC.
D. changed the name of the CSO to the DTC.
De Beers became a privately owned company in
A. May 2001. B. June 2003. C. May 2005. D. December 2007.
A. May 2001.
Businesses that sell to consumers via television cable, phone line, or satellite are called
A. electronic retailers. B. suppliers of choice. C. digital diamond dealers. D. vertically integrated marketers.
A. electronic retailers.
The program adopted by De Beers in 2007 to answer critics and resolve shortcomings of its SOC program is called
A. beneficiation. B. Kimberley Practices. C. Supplier of Choice 2. D. Best Practices Principles.
C. Supplier of Choice 2.
A commitment to reserve a portion of the resources derived from any country for the economic development of that country is called
A. integration. B. beneficiation. C. Best Practices. D. the Kimberley Process.
B. beneficiation.
The diamond industry program designed to ensure that diamonds do not fund civil conflict or terrorism is called
A. integration. B. beneficiation. C. Best Practices. D. the Kimberley Process.
D. the Kimberley Process.
In South Africa, a new mining charter that designates the people of the country as the owners of its mineral resources is a result of
A. apartheid. B. beneficiation. C. vertical integration. D. Black Economic Empowerment.
D. Black Economic Empowerment.
A city, region, or country with a large number of gemstone manufacturers is called a
A. trade center. B. market center. C. cutting center. D. business center.
C. cutting center.
Vast quantities of small, inexpensive diamonds suitable for low-cost, mass-market jewelry are mined in
A. India. B. Russia. C. Canada. D. Australia.
D. Australia.
In 2000, De Beers altered its consumer advertising by
A. doubling its advertising budget. B. changing its advertising agency. C. introducing the “Forevermark” logo. D. discouraging dealers from doing their own advertising.
C. introducing the “Forevermark” logo.
