Approximately what is the estimated size of the world market in terms of annual global GDP?

• A. About \$100 trillion
• B. About \$10 trillion
• C. About \$1 trillion
• D. About \$500 trillion

Answer: (A)

Verified step by step guidance

1. Understand that the problem asks for an estimate of the total annual global GDP, which represents the combined economic output of all countries in the world within one year.
2. Recall that global GDP is typically measured in trillions of US dollars and is reported by international organizations such as the World Bank or the International Monetary Fund (IMF).
3. Recognize that the global economy is very large, with major economies like the US, China, and the EU contributing significant portions, and that the total is much larger than individual country GDPs.
4. Use your knowledge or reference data that the global GDP is on the order of tens of trillions of dollars, rather than just a few trillions or hundreds of trillions, to narrow down the options.
5. Conclude that the estimated size of the world market in terms of annual global GDP is closest to about \$100 trillion, based on the scale of global economic activity.