One way DeBeers managed to maintain control over the diamond industry was to:
A)continue to be the sole diamond producer by buying all existing diamonds.
B)create the illusion of no close substitutes through marketing.
C)punish consumers who sought to store their wealth in diamonds.
D)All of these statements are true.

Question

Quizplus · Accepted Answer

DeBeers managed to maintain control over the diamond industry by creating the illusion of scarcity and the idea that there were no close substitutes for diamonds, particularly through their marketing campaigns, such as "A Diamond is Forever." This helped sustain high demand and prices for diamonds.

One Way DeBeers Managed to Maintain Control Over the Diamond