A Trust Will Fail for Lack Of

question 40

Multiple Choice

A trust will fail for lack of:

• A) consideration.
• B) a trustee.
• C) definite and specific property forming the trust corpus.
• D) All of these.

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Definitions:

Alternative Good

A product that consumers can use in place of another; often considered when examining choices or preferences in consumption.

Scarcity

The primary economic challenge is the existence of boundless human demands and necessities within a finite supply of resources.

Technology Advances

Progressive developments and improvements in technology that enhance productivity, efficiency, and the quality of goods and services.

Production Possibilities Curve

A graph that shows the maximum quantity of one good that can be produced for each possible quantity of another good produced, illustrating the trade-offs and opportunity costs of production choices.