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In economics, demand destruction refers to a permanent or sustained decline in the demand for a certain good in response to persistent high prices or limited supply. Because of persistent high prices, consumers may decide that it is not worth purchasing as much of that good, or seek out alternatives as substitutes.
Causes for the continuing decline were suggested as lower demand in China, the general global economy, and fewer marriages, but improvement in speed of laboratory growing of diamonds from weeks (and billions of years for natural stones) to hours was thought to be the biggest change.
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
Before buying any old gem, though, keep reading to uncover the 25 most popular gemstones—and their meanings. Agate “Agate is earthy, warm and rich,” Salzer says, noting that it exists in ...
This figure includes both gem stones and industrial diamonds. [33] Diamond production rose in 2005 to over 15,800,000 carats (3.16 t). [24] The high value-added diamond cutting industry is in decline in South Africa, mainly due to competition from low-cost labour countries such as India, China and Botswana. [34]
While demand weakens, supply will need to grow, economists said. That will require a set of outcomes that extends well beyond the control of U.S. economic policymakers, Piegza, the chief economist ...
The law of demand, however, only makes a qualitative statement in the sense that it describes the direction of change in the amount of quantity demanded but not the magnitude of change. The law of demand is represented by a graph called the demand curve, with quantity demanded on the x-axis and price on the y-axis. Demand curves are downward ...
Analyzing G8 Education Limited's (ASX:GEM) track record of past performance is a valuable exercise for investors. It...