So, to calculate the cost of the Big Mac in a way that’s comparable despite varying currencies, the average national Big Mac price has been taken and converted to the most recent exchange rate in U.S dollars. McDonald’s top-selling burger is made in a standardized size and method, with the same quality in nearly every country. Plus, using something as delicious and recognized as the Big Mac might shed some light on the complex world of economics. By comparing the price of the infamous burger between countries, you reach a better understanding of what people are paying for the same item across the globe. If the price of a Big Mac low then we can say that the prices in the country are low, even if the high prices are relatively high. It also includes the cost of renting space and equipment, labor, and other factors.
Big Mac contains meat, vegetables, cheese, bread and other foods. The Economist magazine created the Big Mac Index in 1986 in order to illustrate consumer purchasing power and to provide a better understanding of the currency value in any given country. Big Mac index - the cost of a burger in McDonalds network. I’m sure when the first McDonald’s franchise owner Jim Delligan from Pennsylvania perfected the Big Mac sauce (which took him two years), he never thought that in 1968 his creation would later become a way to measure a country’s economy. Can you think of something that 120 countries across the world have in common? That would be the one and only Big Mac hamburger offered by McDonald’s franchises internationally.
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