Question

The diamond market is monopolized by the debeers organization, from mining to cutting and polishing to wholesaling. jewelers can do little to negotiate prices. this situation typifies

Answer 1

I would say this sort of situation typifies a monopoly or a cartel where the whole process of extracting and preparing a product is controlled by one company so that those who need to utilize their products are subject to the whims of such a company as there is little or no alternative suppliers. It also would qualify the one company who controls the whole process of developing a product as a strong supplier.