– 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 they say an industry or market is “worth an estimated x dollars,” it’s like saying, “All the things that companies sell in that industry or market add up to a lot of money.” They figure out this amount by adding up how much people pay for all the stuff or services in that industry, like toys, cars, or phones. So, it’s like a big pile of money that all those things make together.