Boart Longyear samples for the proposed Golden Gate Bridge in San Francisco. In spite of the financial crisis, the 1930s saw improvements in diamond drilling technology, including the use of industrial-quality diamonds mined in Africa that were called “boarts.” In 1936, South Africa’s Anglo American Corporation formed Boart Products South Africa (Pty) Limited, which was later named Boart International. The new company developed the first mechanically-set diamond core bits, which were less expensive than the hand-set core bits that used more expensive Brazilian diamonds (carbonados). Longyear’s business gradually improved in the 1940s in response to expanding worldwide mineral exploration. In 1949, the
Inferior good by poor people for which richer people have alternatives exemplify inferior goods. As a rule, used and obsolete goods (but not antiques) marketed to persons of low income as closeouts are inferior goods at the time even if they had earlier been normal goods or even luxury goods. Others are very inconsistent across geographic regions or cultures. The potato, for example, generally conforms to the demand function of an inferior good in the Andean region where the crop originated. People of higher incomes and/or those who have migrated to coastal areas are more likely to prefer other staples such as