Are diamonds no longer a girls best friend?
Friday, July 24, 2009
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Figures released today show that the worlds top miner of diamonds, De Beers, have seen profits plummet by 99%. This article explains further.
Perhaps the world-wide recession is having an impact upon sales? It would make most sense as diamonds are luxury goods so as incomes fall the demand for such products will fall. This is probably a good article to start off discussions leading to income elasticity of demand.
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