Lab Grown Diamonds: A New Era

What is a significant advantage of lab-grown diamonds over natural diamonds?

• They are mined from rare locations.

• They are significantly cheaper.

• They are more durable.

• They are more colorful.

How have lab-grown diamonds affected the import of natural diamonds in America?

• Imports have doubled.

• Imports have increased slightly.

• Imports have remained the same.

• Imports have dropped by half.

Why are engagement rings considered non-ordinary goods?

• They are made from rare materials.

• They are always custom-made.

• They are a one-time purchase for a significant event.

• They are bought frequently.

What has happened to the retail margins on lab-grown diamonds in recent years?

• They have decreased significantly.

• They have increased to nearly 90%.

• They have fluctuated unpredictably.

• They have remained stable.

What must luxury vendors do to ensure the survival of natural diamonds?

• Lower the prices of natural diamonds.

• Convince consumers of the value of natural stones.

• Stop selling lab-grown diamonds.

• Increase the production of natural diamonds.