Impact of Inflation and Supply Chain on Fast Food Value Menus

The video explores the history and evolution of value menus in fast food chains, starting from the late 1980s with Wendy's and Taco Bell. It discusses how economic factors like inflation and supply chain issues have impacted these menus, leading to fewer and more expensive options. Strategies such as shrink-flation and price increases are used by restaurants to manage rising costs. Despite these challenges, value menus remain important for attracting customers, especially during economic downturns.

What year was the concept of value menus introduced in the fast food industry?

• 1985

• 1989

• 1992

• 1995

Which two fast food chains were the pioneers in launching value menus?

• Burger King and Wendy's

• McDonald's and Burger King

• Wendy's and Taco Bell

• KFC and Subway

What was the name of Wendy's value menu introduced in the late 1980s?

• Dollar Savers

• Budget Bites

• Economy Menu

• Super Value Menu

Which fast food chain introduced a value menu with items priced at 99 cents in the late 1980s?

• McDonald's

• Burger King

• Wendy's

• Taco Bell

During which economic period did McDonald's focus on promoting $1 drinks?

• Post-2010 economic recovery

• Early 2000s

• During the 2008 recession

• Late 1990s

How did McDonald's respond to the economic challenges in 2008?

• By closing several outlets

• By introducing premium products

• By promoting $1 cold drinks

• By reducing staff

What is 'shrinkflation' as used in the context of fast food industry adjustments?

• Decreasing the portion size without changing prices

• Reducing menu prices

• Expanding the menu options

• Increasing the food quantity

What major global event contributed to the rise in commodity prices like vegetable oil?

• Brexit

• The 2008 financial crisis

• The war in Ukraine

• The COVID-19 pandemic

What strategy did fast food chains adopt to manage rising costs in recent years?

• Eliminating value menus entirely

• Only increasing the price of luxury items

• Focusing solely on plant-based options

• Cutting down on portion sizes and raising prices

Which company's CEO mentioned the change was in response to higher labor and food costs?

• Burger King

• Domino's

• McDonald's

• Wendy's