What do you think is the main reason for the relatively high rate of business failures five years after start-up? Justify your answer. The price of a high-quality diamond ring used for weddings is...

What do you think is the main reason for the relatively high

rate of business failures five years after start-up? Justify

your answer.

The price of a high-quality diamond ring used for weddings

is €250. The price of a tonne of steel is €25. Does this mean

that the transformation process in making a diamond ring is

ten times more complex and costly than in making a tonne

of steel? Explain your answer using the concept of added

value.