HOW MUCH IS THAT….? Guess the price for each Chinese item and then if it’s higher or lower in each other country Thumbs up = Higher Thumbs down = Lower

HOW MUCH DOES THIS COST IN CHINA? $0.44 or 2.77RMB A CAN OF COKE

In the USA $1 or 6 RMB In South Africa $0.73 or 5 RMB In Russia $1.41 or 9 RMB

HOW MUCH DOES THIS COST IN CHINA? $1.31 or 8.27 RMB A BIG MAC

$3.29 or 20 RMB In the USA In South Africa $2.30 or 14 RMB In Russia $1.78 or 11 RMB

HOW MUCH DOES THIS COST IN CHINA? $299 Or 1900 RMB 4GB iPOD NANO

In the USA $249 or 1578 RMB In South Africa $321 or 2027 RMB In Russia $299 or 1900 RMB

HOW MUCH DOES THIS COST IN CHINA? $89 or 562 RMB NIKE TRIAX

In the USA $90 or 562 RMB In South Africa $181.59 or 1150 RMB In Russia $126.71 or 795 RMB

GDP per capita USA $44,000 or £22,000 UK $31,800 or £15,900 CHINA $7,700 or £3,850 SOUTH AFRICA $13,300 or £6,650 RUSSIA $12,200 or £6,100 FIGURES IN US$ SOURCE:https://www.cia.gov/library/publications/the-world-factbook/

What is PPP? What do you notice about the price differences? What proportion of their average income must people in each country spend to get these goods? Why do people in different countries want to buy these goods? What is purchasing power parity? – write a definition of PPP in your books!

Can wealth data be trusted? On your own rank the GDP (per capita) and PPP for the 10 countries. In groups try to explain why they do not match perfectly. In groups, come up with 3 reasons this type of wealth data may not be trustworthy

Homework It’s time now to live the billionaire lifestyle with a jet-set holiday. Your billionaire uncle has given you £500 spending money (very generous!) for a holiday to a European destination of your choice AND somewhere in Africa (not Egypt or South Africa). Being a billionaire he’s already paid for your travel and accommodation. Find out how long £500 will last you by researching spending costs on the Internet Use www.numbeo.com to start