– when an industry or market is described to be ‘worth an estimated x dollars’ what does that actually mean?

Question

– when an industry or market is described to be ‘worth an estimated x dollars’ what does that actually mean?

In: 45

Answer 1

When people say an industry or market is “worth an estimated x dollars,” it’s like saying, “All the things related to that industry or market, if you add up their prices, would be around x dollars.”

Imagine you have a big basket of different kinds of fruit. Each fruit has a price tag. If you add up all those price tags, you’ll know how much the basket of fruit is worth. That’s a bit like how they figure out the worth of an industry or market.

For example, if we’re talking about the video game industry being worth $100 billion, it means if you add up all the money from selling video games, consoles, and related stuff, it’s around $100 billion in total. It’s just a way to give us an idea of how big or valuable that industry is.