Step 1: The given expression is:
\[ 1 - \frac{1}{3}, 1 - \frac{1}{4}, 1 - \frac{1}{5}, ... , 1 - \frac{1}{100} \]
Rewriting in fraction form:
\[ \frac{2}{3} \times \frac{3}{4} \times \frac{4}{5} \times ... \times \frac{99}{100} \]
Step 2: Most of the terms cancel out, leaving:
\[ \frac{2}{100} \]
Step 3: Simplifying the expression:
\[ \frac{2}{100} = \frac{1}{50} \]
Thus, the correct answer is: \(\frac{1}{50}\).