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social science subjects > business and management > international business > economics of international business > Big Mac index

Preferred term

Big Mac index  

Definition

  • The Big Mac Index compares the prices of McDonald's Big Mac burgers, a fast food item produced and sold in 120 countries worldwide, as an indicator of possible overvaluation or undervaluation of the local currency relative to the U.S. dollar. The tongue-in-cheek analyses give an easily digestible example of the economic theory on purchasing power parity (PPP) and its applicability in the practical sense. [Source: Encyclopedia of Business in Today's World; Big Mac Index]

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https://concepts.sagepub.com/social-science/concept/Big_Mac_index

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