Final answer:
Telecommunications serve as a data transfer service between businesses, offering cheaper and faster data transmission and enabling technologies like free Internet-based calling and video calling.
Step-by-step explanation:
Telecommunications is a data transfer service that can connect one business to another business using a standard Ethernet connection. This sector has reformed the way businesses operate, enabling cheaper, faster, and better-quality data transmission.
As a result, companies can now engage in long-distance economic connections of production and sales more efficiently. In the modern economy, a vast array of products and services, such as computer software, financial advice, and travel planning, can be transported over telecommunication networks at reduced costs. Furthermore, telecommunications facilitate spin-off technologies like free Internet-based calling and video calling, adding additional value for businesses. The development of telecommunications has been further bolstered by international agreements and treaties that have encouraged greater trade between countries.This technology has made it easier and cheaper to manage long-distance economic connections of production and sales. Additionally, it has led to the development of spin-off technologies like free Internet-based calling and video calling.