Dear MEL School’s Topic Readers,
$7.54 for a Big
Mac? Only in Switzerland
Comparing the
prices of a sandwich to measure economy? It may not reflect every part of the
economy but it still shows how the currency is valued in some extent.
Big Mac, the
premium menu of the world largest restaurant chain with over 35,000 outlets in
119 countries, has been used to compare the actual street-level value of currencies
because it is sold almost in the same way in all those markets and eaten by
ordinary people. In short, eating the same thing in different places, you can
find the fair market value of the currency as well as the costs to run the same
business, including the rent, food and labor costs.
Enjoy reading and
comparing the prices of the world most famous, may not be the popular,
sandwich!
If you’re interested in eating a Big Mac in
another marketplace, or just wanting to know its relative prices, Check The Big
Mac index by The Economist at;
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