What does The Economist's Big Mac Index employ to assess the relative economic buying power among nations?

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The Economist's Big Mac Index employs purchasing power parity (PPP) to assess the relative economic buying power among nations. PPP measures the amount of currency needed in one country to purchase the same goods and services that can be purchased with a unit of currency in another country. The index uses the price of a Big Mac burger, a widely available and standardized product across different countries, to reflect the relative PPP between two currencies. Therefore, the Big Mac Index is a useful tool to compare currency valuations and assess whether a currency is overvalued or undervalued relative to another currency.

What Does the Economist's Big Mac Index Employ to Assess