Importance of Telecommunication
- Increases market size, as goods can be sold in and out of the country (e-commerce).
- Allows firms, individuals, and government to make payments abroad.
- Helps people share knowledge and technology.
- Makes it easier to transfer documents and parcels safely and quickly.
- Turns the world into a “global village” with free movement of goods and money.
Telecommunication Services
- Telephone: fast and detailed, but depends on network availability, airtime, and battery charge.
- Facsimile (fax): a fax machine scans a document and converts it into signals, which another fax machine converts back into an image and prints.
- Telegram: transmits brief, quick messages over cables; cost depends on the number of words, making it expensive.
- Telex: teleprinters for public use that allow longer messages than telegrams.
