Question: “Money cannot buy all the goods and services that a person may need to live well”. Explain the statement with suitable examples. (Board Term-I, Set-CB4QHT1, 2016-17)
Answer: Money cannot buy all the goods and services that a person may need to live well. Income by itself is not a completely adequate indicator of material goods and services that citizens are able to use.
For example, normally, money cannot buy a pollution-free environment or ensure that a person gets unadulterated medicines, unless a person can afford to shift to a community that already has all these things. Money may also not be able to protect individual from infections, disease, unless the whole of our community takes preventive steps.