Between 1986 and 1998 the De Beers Company Controlled the World

question 243

Multiple Choice

Between 1986 and 1998 the De Beers company controlled the world diamond market. De Beers and its affiliated association of producers restricted diamond sales to maximize profits. De Beers and its association was "the only game in town" and had what is

• A) a cartel.
• B) a duopoly.
• C) monopolistic competitor.
• D) perfect competitor.

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Definitions:

Escape Response

A behavioral reaction to avoid or get away from a threatening or uncomfortable situation.

Flooding

A behavioral therapy technique used for treating phobias and anxiety disorders by exposing the patient to their anxiety source without any danger, in order to overcome their anxiety.

Exposed

Made visible or uncovered, potentially leading to harm, risk, or understanding.

Fear

An emotional response to a perceived threat, characterized by anxiety and a survival mechanism that signals danger and prepares an individual to react.