Diamonds have been able to keep prices high primarily through
A) successful advertising.
B) successful cartel behavior.
C) misinformation.
D) new diamond discoveries.

Question

Quizplus · Accepted Answer

The diamond industry has been able to keep prices high primarily through successful cartel behavior. The De Beers Group, which controls roughly 35% of the global diamond supply, has historically acted as a cartel by manipulating the supply of diamonds in order to keep prices high. They have also successfully marketed diamonds as symbols of love and commitment, further driving up demand and prices.

Diamonds Have Been Able to Keep Prices High Primarily Through