What is Gross World Product?

Gross World Product refers to the total value of all goods and services produced globally within a specific period, typically measured annually. This measure encompasses all economic activities across different countries and sectors, providing a comprehensive view of global economic health.

Option B is correct because it accurately captures the essence of Gross World Product as a broad aggregate of global economic output. It includes everything from the production of consumer goods to services like healthcare and education, reflecting the interconnected nature of the global economy.

In contrast, the other options do not encapsulate this broader economic activity. The first option is too narrow, focusing only on specific metals, while the third option limits the definition to only the largest economies and ignores the contributions of smaller nations and sectors. The last option is also inappropriate because it pertains to natural resources rather than the economic output generated from those resources. Thus, option B stands out as the correct definition of Gross World Product.