The images show the cost of the same bike in the united states and britain. the concept shown in he images is known as

The concept defined is known as Purchasing Power Parity (PPP).

The Purchasing Power Parity theory, is a economic theory used to establish exchange rates between currencies from different countries based on the statement that the rates obtained have to maintain the same purchasing power in both states.

Therefore, the exchange rates between the British and US currencies, have to be calculated in such a way the the real cost of the bike in both countries is exactly the same.

i got 3,4 and 5 as an answer

this question your asking is true hope this and you get a 100 percent : )