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 slower and cheaper than buses, so rail travel is an inferior good. Certain financial services, including payday lending, are inferior goods. Such financial services are generally marketed to persons with low incomes. People with middle or higher incomes can typically use credit cards that have better terms of payment or bank loans for higher volumes and much lower rates of interest. Inexpensive foods like instant noodles, bologna, pizza, hamburger, mass-market beer, frozen dinners, and canned goods are additional examples of inferior goods. As incomes rise, one tends to purchase more expensive, appealing or nutritious foods. Likewise, goods and services used