The statement is true that if a taxpayer contributes a painting to a museum but reserves the right to use the painting for parties, he may not be allowed a deduction for the charitable contribution. If he donates or contributes the painting without certain conditions of his/her ownership, then he will be allowed for that deduction.
The answer would be letter A.
Answer:
b. unlimited wants and limited resources.
Explanation:
There are different definitions of economics. Some say it´s a science that studies the production, distribution and consumption of good and services. Another definition refers to the theories and models that govern the market process. But definitely, economics must strike a balance between a society´s wants - that may be unlimited - and the limited resources available.
