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vovikov84 [41]
3 years ago
6

The De Beers Company, one of the longest-lived monopolies, is facing increasing competition. One source of competition comes fro

m people who might resell their previously owned diamonds. Why is De Beers worried that people might resell their previously owned diamonds?
Business
1 answer:
inessss [21]3 years ago
4 0

De Beers is worried that people might resell their previously owned diamonds <u>because previously owned diamonds would be a close substitute to newly mined diamonds and therefore reduce De Beers' market power</u>.

<u>Explanation</u>:

A single company selling the unique product with no competition is known as monopoly. The company is sole seller of the product. The company is free of competition and decides the price of the product with full freedom.

De Beers Company is a monopoly company dealing with diamonds. They were monopoly for long time. In recent days they are facing increasing competition due to resale of diamonds by the previously owned customers. The company’s market power is reduced as the previously owned diamond is close to newly mined diamond.

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Answer:

The correct answer to the following question will be "Consumption".

Explanation:

Investments, welfare spending, consumer spending are essential elements of GDP. That tells them what a nation is doing well. For every year, GDP is the world's total economic production.

Expenditure on resources consumption includes:

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2 years ago
Shondra is thinking of making payments for her laptop by setting up automatic withdrawals with the store. What must
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Answer:

Command economy

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A traditional economy being the oldest form of economy upholds culture and history and as such relies more on bartering than money. It is mostly common in emerging markets and developing countries.

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Conclusively, amidst the types of intermediaries, helps provide several alternative to humans, so that we can choose base on our preference.

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