Because It Controls the World's Diamond Deposits, the DeBeers Consolidated

question 132

Multiple Choice

Because it controls the world's diamond deposits, the DeBeers Consolidated Mines, Ltd., has a(n)

• A) absolute advantage.
• B) comparative advantage.
• C) advantage based on efficient production.
• D) trade deficit.
• E) lot of diamonds.

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Definitions:

Operation Of Law

Refers to legal changes or transfers that occur automatically due to existing legal rules, rather than through actions taken by individuals or agreements.

Agency Relationship

A legal relationship where one party, the agent, is authorized to act on behalf of another, the principal, in dealings with third parties.

Negligent Hiring

A legal claim made against an employer for hiring someone who they knew or should have known was likely to behave in a dangerous or harmful manner.

Direct Liability

Direct liability is the legal responsibility that arises from one's own actions or omissions, directly causing harm or loss to another party.