Final answer:
Cloud computing provides hardware and software over the Internet, allowing cheaper and better data access. It supports long-distance economic activities and has resulted in services like Internet-based calls.
Step-by-step explanation:
The technology involving the use of hardware and software delivered over a network, such as the Internet, is commonly known as cloud computing. This technology allows users to access data and services without the necessity for additional on-site equipment or substantial infrastructure investments. Cloud computing represents a paradigm shift in how technology is operated and consumed, leading to cheaper, faster, and better-quality data transmission. Spin-off technologies from cloud computing include services like free Internet-based calling and video calling, which have become standard communication methods.
Telecommunications advancements have enabled long-distance economic connections to flourish at reduced costs. Now, a wide array of products and services can be efficiently transmitted over networks, facilitating international trade and cooperation. This includes various forms of digital information, from software and entertainment to professional services and technical plans. Moreover, with technologies such as cell phone and satellite transmission, developing countries can bypass the costly infrastructure of wired networks, leading to more equitable access to advanced communication systems.
The debate on 'Net Neutrality' highlights the complexities of managing Internet infrastructure to balance the interests of different stakeholders, ensuring that the Internet remains open and fair for all users, regardless of economic capability.