'Big Mac Index' explained (explainity® explainer video)
Вставка
- Опубліковано 1 вер 2020
- You're probably wondering what a ‘Big Mac’ has to do with an index. We explain it to you here in this video.
Script download: www.explainity.com/education-project/transskripte/
Sources: de.statista.com/statistik/dat...
www.ing.de/ueber-uns/wissensw...
de.wikipedia.org/wiki/Big-Mac...
-------
This explainer video was produced by explainity GmbH
Homepage: www.explainity.com
E-Mail: info@explainity.com
This explanatory film was produced and published for private, non-commercial use and may be used free of charge in this context for private purposes without consultation or written authorization. Please note, however, that neither the content nor the graphics of this explanatory film may be altered in any way. Please always give explainity as the source when using the film, and if you publish it on the internet, provide a reference to www.explainity.com.
For commercial use or use for training purposes, such as projection of the film at training events (e.g. projection of the film as a teaching aid in school or in adult education), a licence is required. Further information on this subject will be found here: www.explainity.com/education-...
The reason a Big Mac makes sense as well, is that it mostly uses multiple ingredients sourced locally and because it's food doesn't have too many tax variations so helps get better fidelity on parity. Where as mini mac biggest cost variations come from transport and taxes.
Good video.
Especially liked how you showed the other indexes and how we can make our own.
Thank you for the video
U have great representation skills 💯
At 1:14, it should say the purchasing power is twice that of the USA. Half the dollar value bought you the same product, so your purchasing power is higher, not lower.
Nope, if the big mac is cheaper is because the people in that country can't pay the same and if 2 people from those countries change country, who do you think will be able to buy more with its money? The one who was used to pay half the price or the one that's used to pay double the price? That's why it's purchasing power is higher.
@@McConha tnx now this is a clearer explanation than the whole vid! 😀😊
not necessarily, here in the Philippines, a big mac is considered a luxury item for most people. It costs about 3 dollars and the National minimum wage is about 10 dollars a day. So imagine paying about a third of your daily wage for a big mac. Now imagine paying 20 dollars for a big mac.
You know, they could really change it to 'The Egg Index', how much does it cost to buy one hen egg in each country, that would cover a lot of developing countries as well and/or cover rural economies. Would definitely be a useful index.
Thing is the way McDonalds, Apple or Ikea prices their products is up to them and doesn't represent the purchasing power of a country at all. Hong Kong burgers are cheaper than in Egypt and yet HK is wayyyy more rich. Also, for the mini mac, electronics is taxed very differently in different countries, again a terrible indicator. Finally, furniture might be the best one but still, not great...
big mac index isnt always accurate as in china mcdonalds consider expensive compared to local food.
Siri startet
CHICKEN IS SO DILISUOS
Lol big mac for 2.5 $ now its around 4$
in africa an ipad probably cost few millions instead of $1k USD so i guess africans have way bigger purchasing power than americans 😂😂😂
go vegan
Don't
I’ll go vegan if you buy bitcoin
then you have no moral compass.
@@aslo.8281 no we love meat we love meat I’m eating meat right now YUMM