How much food can you buy for $5 around the world?
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Cost of living differs from country to country. One way to see this is in the cost of basic food staples. This video by BuzzFeed shows what some foods cost around the world.
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Additional Resources for you to Explore
It is important to understand what the average worker in each country would make in dollars each year. Per Capita Gross National Income or GNI is a fancy way of saying average income. The United Nations data on these statistics is well regarded.
Here is a link to per capita GNI statistics from the United Nations using the Atlas method.
Here is a link to per capita GNI statistics from the United Nations using the PPP method.
Take a look at the data for Afghanistan in 2012. According to the video, $5 buys twice the amount of rice in Afghanistan as in the United States. But what percentage of relative income is that $5 in both countries?
The United Nations classifies countries according to how developed they are. The classification is based on a number of factors including the strength of the economy, the level of industrialization, standard of living and level of technology. Countries are then compared to each other and placed in a category.
Developed Nations
Developing Nations
Least Developed Nations
Here is a link to per capita GNI statistics from the United Nations using the Atlas method.
Here is a link to per capita GNI statistics from the United Nations using the PPP method.
Take a look at the data for Afghanistan in 2012. According to the video, $5 buys twice the amount of rice in Afghanistan as in the United States. But what percentage of relative income is that $5 in both countries?
The United Nations classifies countries according to how developed they are. The classification is based on a number of factors including the strength of the economy, the level of industrialization, standard of living and level of technology. Countries are then compared to each other and placed in a category.
Developed Nations
Developing Nations
Least Developed Nations
I just don't understand. Shouldn't the cost be the same because it is internationally sold or?
I think it is a good question, so in a shop there are some products that have diferents brands. Bussines struggle to get the best price.
In my opinion this video is very subjective, because there isn´t the same quality in the products for each country, for example it isn´t the same rice the Japan than the Afghanistan rice, although obviusly exist the exportation, and prices are high than national products.
No facts about the health or environmental safety or energy was made in this comparison.
Food on the movie "How much food can you buy for $5....." makes prices look good in other places. But they are not spending large percentages of income on housing or cars. Another question that comes to mind is how much variety is in their diets. Can Ethiopians get other fruit selections besides bananas? Establishing cost of living differences is a complex issue and other comparisons should be made as well. What others?
In Russia are relatively low prices in McDonalds in comparison with the Eastern countries. But it should be noticed that wage is low (average is about 300 dollars) and these big mac's become unattainable. But in Sweden people have high salaries and so this 5 dollars doesn't make any sense.
1) Con base en las comparaciones que hace el video, y en lo que ustedes analizaron en clase, ¿qué país podrías decir que tiene mejor nivel de vida? ¿Por qué? 2) ¿En cuál de los cuatro artículos analizados en clase (Big Mac, arroz, huevo, cerveza) es donde México tiene MAYOR poder adquisitivo que los otros países? ¿A qué piensas que se deba?
Katty Ortiz
I think cause is more healthy. The production cost is more expensive, so they need more labor.
Is it what you could get for $5USD in each country or what $5 in local currency will buy you? I am assuming it is the former, does anyone know?
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