ECONOMICS
ECONOMIC DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The invention of the telephone helped speed up communication for businesses.
|
|
|
It helped people to get around quickly.
|
|
|
They could talk to their family that lived in rural areas.
|
|
|
None of the above
|
Detailed explanation-1: -Telephones made it easier for businesses to communicate with each other. It cut down on the amount of time it took to send messages to each other. As the telephone network grew, it also expanded the area that a business could reach.
Detailed explanation-2: -The telephone revolutionized communication by allowing conversations to take place between individuals at different locations.
Detailed explanation-3: -By transmitting information quickly over long distances, the telegraph facilitated the growth in the railroads, consolidated financial and commodity markets, and reduced information costs within and between firms.
Detailed explanation-4: -Telephones allowed people to talk business and negotiate contracts more quickly and efficiently. Phones made it possible to conduct business without being in the same room, which reduced both travel time and costs. It also allowed businesses to expand beyond their local area by attracting customers from anywhere.