To find the fractional part of a meter that 50 centimeters represents, we can set up a fraction:
$\frac{50 \text{ centimeters}}{100 \text{ centimeters}} = \frac{50}{100}$
We can simplify this fraction by dividing both the numerator and the denominator by their greatest common divisor, which is 50:
$\frac{50}{100} = \frac{50 \div 50}{100 \div 50} = \frac{1}{2}$
So, 50 centimeters is $\frac{1}{2}$ of a meter.
Final Answer: The final answer is $\boxed{\frac{1}{2}}$