What is a geostationary orbit and its impact on society?

Question

What is a geostationary orbit and its impact on society?

Answer 1

The other main impact explains why you can read this wherever you are soon after I type it in N.Z.

Communications sattelites are in geostationary orbit allowing internet, phone T.V. to be transmitted pretty much instantaneously around the world.

Answer 2

A geostationary orbit just means that the satellite is high enough (22,240 miles) above Earth's surface that it's speed matches earth's rotation, thus the satellite remains over a fixed position on earth's surface.  

In terms of weather forcasting it has huge positive impact, allowing large and frequent pictures of a portion of the earth's surface to be taken and analyzed.  This allows for tornado and hurricane warnings to be issued with much greater advance warning, thus saving lives.