Final answer:
Telecommunications, which includes the Internet and World Wide Web, represents the structured exchange of electronic information via networks, facilitating globalization and transforming trade, communication, and information sharing.
Step-by-step explanation:
The standardized and structured exchange of electronic information between two or more parties using public and/or private networks refers to the concept of telecommunications. This process includes the transfer of various forms of data, such as computer software, financial advice, travel planning, and entertainment content like music, books, and movies. Also, with the creation of the Internet and the World Wide Web, the way information is shared and social networks are formed has significantly evolved.
From the original ARPANET in the 1960s to the rise of the Internet in the 1990s, these technologies have become indispensable for managing long-distance economic connections and for personal communication. The protocols developed for these networks have led to an ever-expanding online world, where information can be transported over telephone lines and computer networks at reduced costs. Moreover, international agreements have encouraged greater trade and exchanges across these virtual platforms.
It is evident that the Internet has not only facilitated the globalization of trade and communication but also has transformed the way individuals and governments interact and disseminate information.