![]() The cost of those national smartphone connectivity subscriptions should also pack in a lot of information about localised operating conditions, the state of competition and economic inputs on the differing costs of factors of production such as equipment costs, infrastructure, utilities, logistics, labour costs, property rents, and taxes. Like-for-like monthly mobile call and data plans should provide similar homogenous connectivity to the Internet (a downloaded gigabyte of data is a downloaded gigabyte after all, regardless of country). In the telecoms sector there are arguably similar homogeneous products. ![]() The renowned burger is not only a tasty meal for many, it also packs in a lot of economic and financial data! The production and sale of the product utilises almost wholly localised inputs, be they agricultural, logistics, labour, property rents, taxes and so on. But best of all, McDonalds prides itself on the homogeneity of its product – a Big Mac should be the same quality hamburger, whether you buy it in Shanghai or Mexico City. McDonalds has restaurants and franchises in over 100 countries around the world to facilitate international comparisons. Its local price to the consumer is easy to attain (just walk into a restaurant and read the menu). A Big Mac is a particularly interesting and useful product to compare across countries.
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