Who later expanded the idea of price stability by selling through a single channel and limiting the number of diamonds on the market according to demand?

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Prepare for the Gemological Institute of America's Graduate Diamonds Exam. Enhance your expertise with comprehensive quizzes and insightful explanations. Be ready to excel!

Multiple Choice

Who later expanded the idea of price stability by selling through a single channel and limiting the number of diamonds on the market according to demand?

Explanation:
Central idea: price stability in the diamond market comes from tightly controlling supply and selling through a single channel. Ernest Oppenheimer expanded this approach after Cecil Rhodes laid the groundwork with De Beers. By consolidating mining control and directing rough-diamond sales through one outlet, he could align production with demand and keep prices steady, reducing volatility. ALROSA is a modern player in the field and not tied to this historical strategy, while Mary Frances Gerety is known for the famous advertising slogan rather than supply-control practices.

Central idea: price stability in the diamond market comes from tightly controlling supply and selling through a single channel. Ernest Oppenheimer expanded this approach after Cecil Rhodes laid the groundwork with De Beers. By consolidating mining control and directing rough-diamond sales through one outlet, he could align production with demand and keep prices steady, reducing volatility. ALROSA is a modern player in the field and not tied to this historical strategy, while Mary Frances Gerety is known for the famous advertising slogan rather than supply-control practices.

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