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How to start a successful business
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What can burgers possibly tell us about the economy?
The price of burgers has always been a reliable indicator of the state of the economy. When the economy is good, people are willing to spend more money on beef and other luxury items.
- Burgers provide us with an indicator as to how much currency is being printed through the amount spent purchasing food.
- Burgers stand as a test to see whether the currency is being used as an incentive to save money (i.e., a store of value).
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MORE IDEAS ON THIS
The Big Mac Index
McDonald's global popularity is likely why the Big Mac was chosen as the cheapest hamburger to fill with economic indicators for many countries.
The Economist devised this interactive comparison tool in 1986 called The Big Mac Index. It was intended to ser...
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How can Big Mac help us understand a country's purchasing power?
- Utilizing Purchasing Power Parity or the PPP theory, future exchange rates are predicted based on the worth of products that the respective currencies can purchase.
- Comparing local prices for Big Mac in different regions of the world shows the difference in the PPP, ...
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Countries also use Big Mac burgers as an economic indicator to understand purchasing power.
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The Value of Cryptocurrency
Digital currencies are tricky when it comes to their value.
Initially, they had value due to their being encrypted and secure, and now there is some fluctuation.
Cryptocurrencies have an intrinsic value mainly because of the mass adoption of the currency and the buyers, who sp...
The Pizza Principle: Linking Fast Food With The Economy
- Fast food consumption can be used as an index to measure consumer behaviour and market changes.
- The Pizza Principle, first noticed in New York City in the 80s, revealed that the cost of a subway ride and a slice of pizza remained the same ...
What leaders can learn from The Duke of Windsor
Some of the issues the Duke of Windsor had to resolve to assume the throne:
- He had to commit to diligently prepare himself for his royal role.
- He had to own the idea of actually being a successful King.
- He had to trust in a mentor to help him advanc...
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