Podcast
Questions and Answers
What is the primary purpose of beneficiation in resource management?
What is the primary purpose of beneficiation in resource management?
- To maximize profits for foreign investors
- To ensure environmental protection
- To commit resources for economic development of the country (correct)
- To facilitate international trade agreements
What does a cost-plus model determine in pricing?
What does a cost-plus model determine in pricing?
- The price based on production costs plus a markup (correct)
- The price based on customer willingness to pay
- The price based on competition analysis
- The price based on market trends
Which term refers to the history and origin of a gemstone?
Which term refers to the history and origin of a gemstone?
- Provenance (correct)
- Memo
- Lot Price
- Networking
What is a significant benefit of having an Environmental Management System in place?
What is a significant benefit of having an Environmental Management System in place?
What is the primary characteristic of a consignment agreement?
What is the primary characteristic of a consignment agreement?
How do fluctuations in the diamond market primarily occur?
How do fluctuations in the diamond market primarily occur?
What is a key aspect of establishing trust between parties in buying and selling?
What is a key aspect of establishing trust between parties in buying and selling?
Which pricing model involves charging the highest initial price for a product?
Which pricing model involves charging the highest initial price for a product?
What do price lists often quote in the diamond market?
What do price lists often quote in the diamond market?
In terms of trade, what does a trade publication primarily focus on?
In terms of trade, what does a trade publication primarily focus on?
What factor significantly influences the pricing of diamonds in a market?
What factor significantly influences the pricing of diamonds in a market?
What is a primary pricing difference between lab-grown diamonds and natural diamonds?
What is a primary pricing difference between lab-grown diamonds and natural diamonds?
Which of the following is NOT a benefit of market awareness in the diamond industry?
Which of the following is NOT a benefit of market awareness in the diamond industry?
How do trade shows contribute to knowledge in the diamond industry?
How do trade shows contribute to knowledge in the diamond industry?
What sustainability issues are typically associated with diamond mining?
What sustainability issues are typically associated with diamond mining?
What is traceability in the diamond industry primarily concerned with?
What is traceability in the diamond industry primarily concerned with?
What significant opportunity does recognizing trends in the diamond market provide?
What significant opportunity does recognizing trends in the diamond market provide?
What role does networking play in the diamond industry?
What role does networking play in the diamond industry?
What is one of the environmental challenges associated with diamond mining?
What is one of the environmental challenges associated with diamond mining?
Which statement about price levels in the diamond market is accurate?
Which statement about price levels in the diamond market is accurate?
Diamond mining creates ........
Diamond mining creates ........
Price lists estimate wholesale diamond prices in a specific market, so it’s important ..........
Price lists estimate wholesale diamond prices in a specific market, so it’s important ..........
A shared, unalterable ledger used to record transactions and track assets through a supply chain or business network is ...?
A shared, unalterable ledger used to record transactions and track assets through a supply chain or business network is ...?
A discounted price for buying an entire parcel or a substantial part of it is ?
A discounted price for buying an entire parcel or a substantial part of it is ?
Something currently in demand or popular among consumers is ?
Something currently in demand or popular among consumers is ?
An event at which businesses promote and sell their products and services is ?
An event at which businesses promote and sell their products and services is ?
A short-term agreement in which a dealer entrusts goods to a client without requiring immediate payment is ?
A short-term agreement in which a dealer entrusts goods to a client without requiring immediate payment is ?
Exchanging information and developing contacts among people with a common professional or special interest is ?
Exchanging information and developing contacts among people with a common professional or special interest is ?
A committee, club, society, or association in which a group of people, or members, are united for a similar purpose is ?
A committee, club, society, or association in which a group of people, or members, are united for a similar purpose is ?
Factors other than the 4Cs can.....
Factors other than the 4Cs can.....
Dealers usually offer better prices for.....
Dealers usually offer better prices for.....
The price of a gem divided by its carat weight is ?
The price of a gem divided by its carat weight is ?
A premium price paid for selecting stones from a parcel is ?
A premium price paid for selecting stones from a parcel is ?
The ability to continue a specific behavior indefinitely is ?
The ability to continue a specific behavior indefinitely is ?
Conditions of a sale agreed upon between buyer and seller stating how and when an invoice is to be paid is ?
Conditions of a sale agreed upon between buyer and seller stating how and when an invoice is to be paid is ?
Flashcards
Beneficiation
Beneficiation
Setting aside a portion of resources for a country's economic growth.
Blockchain
Blockchain
A shared, unchangeable record of transactions and assets.
Cost-Plus Model
Cost-Plus Model
Pricing a product based on cost plus a small profit.
Environmental Management System
Environmental Management System
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Lot Price
Lot Price
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Per-Carat Price
Per-Carat Price
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Pick Price
Pick Price
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Price-Skimming Model
Price-Skimming Model
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Provenance
Provenance
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Sustainability
Sustainability
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Wholesale Diamond Prices
Wholesale Diamond Prices
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Market Awareness
Market Awareness
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Lab-Grown Diamonds
Lab-Grown Diamonds
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Trade Shows
Trade Shows
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Diamond Mining
Diamond Mining
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Environmental Challenges
Environmental Challenges
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Traceability
Traceability
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Market Assessment
Market Assessment
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Diamond Parcel Evaluation
Diamond Parcel Evaluation
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Study Notes
DDG Ass #20 Key Terms and Concepts
- Beneficiation: A commitment to reserve a portion of the resources derived from a country for the economic development of that country.
- Blockchain: A shared, unalterable ledger used to record transactions and track assets through a supply chain or business network.
- Consignment: A long-term agreement where a dealer/manufacturer loans goods to a retailer.
- Cost-Plus Model: Model where the final sale price is based on the cost to produce the product plus a small markup.
- Environmental Management System: Policies/processes enabling organizations to reduce environmental impacts and increase operating efficiency.
- Lot Price: A discounted price for buying an entire parcel or substantial part of it.
- Memo: A short-term agreement where a dealer entrusts goods to a client without immediate payment.
- Networking: Exchanging information and developing contacts among people with a common professional/special interest.
- Per-Carat Price: The price of a gem divided by its carat weight.
- Pick Price: A premium price paid for selecting stones from a parcel.
- Price-Skimming Model: Model where manufacturers charge the highest initial price for a product, then lower it as new competitors enter the market.
- Provenance: The origin and history of ownership of a gemstone/piece of jewelry.
- Sustainability: The ability to continue a specific behavior indefinitely.
- Terms of Payment: Conditions of a sale specifying how and when an invoice is to be paid.
- Trade Organization: A committee, club, society, or association bringing people together for a common purpose.
- Trade Publication: A magazine, newspaper, journal, or website sharing information on news, trends, and topics relevant to a specific industry.
- Trade Show: An event where businesses promote and sell their products/services.
- Trend: Something currently in demand or popular among consumers.
Key Concepts
- Fluctuations: The diamond market is affected by world events.
- Factors Affecting Price: Factors besides the 4Cs (cut, clarity, carat, color) impact retail prices.
- Immediate Payment: Dealers often offer better prices for immediate payment.
- Trust: Establishing trust is essential in buying and selling.
- Price Lists: Price lists often quote per-carat prices and estimate wholesale prices.
- Parcel Evaluation: Understanding the time/effort to evaluate a stone parcel is key when calculating price.
- Market Research: Understanding market price levels is important to assess potential deals.
- Lab-Grown Diamonds: Lab-grown diamonds typically are significantly cheaper than natural diamonds.
- Market Awareness: Increased market awareness helps in making better decisions, generating ideas, and solving problems.
- Networking: Networking facilitates career success.
- Trade Show Learning: Trade shows offer educational resources for staying informed about industry trends.
- Recognizing Trends: Recognizing trends provides lucrative opportunities.
Sustainability
- Economic, Environmental, Social Considerations: Sustainability in the gem/jewelry industry considers economic, environmental, and social factors.
- Diamond Mining Jobs: Diamond mining provides employment in remote areas.
- Environmental Challenges: Environmental challenges of diamond mining include soil erosion, deforestation, ecosystem and biodiversity disturbance, and water use.
- Traceability: Traceability in the diamond industry is the ability to track a diamond's journey from the mine to the consumer.
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Description
Test your knowledge with key terms and concepts related to economic development, blockchain technology, and environmental management. This quiz covers essential definitions and models used in business and environmental practices. Perfect for students and professionals looking to reinforce their understanding.
