5.1 MOORE'S LAW

flash memory

Nonvolatile, chip-based storage, often used in mobile phones, cameras, and MP3 players. Sometimes called flash RAM, flash memory is slower than conventional RAM, but holds its charge even when the power goes out.

microcontrollers

Special-purpose computing devices that don't have an operating system and can't do as much as general purpose computers or smart phones. Most microcontrollers, like those based on the popular open-source Arduino platform, contain a processor, memory and input/output (I/O) peripherals on a single chip.

volatile memory

Storage (such as RAM chips) that is wiped clean when power is cut off from a device.

nonvolatile memory

Storage that retains data even when powered down (such as flash memory, hard disk, or DVD storage).

random-access memory (RAM)

The fast, chip-based volatile storage in a computing device.

optical fiber line

A high-speed glass or plastic-lined networking cable used in telecommunications.

semiconductor

A substance such as silicon dioxide used inside most computer chips that is capable of enabling as well as inhibiting the flow of electricity. From a managerial perspective, when someone refers to semiconductors, they are talking about computer chips, and the semiconductor industry is the chip business.

Internet of Things (IoT)

A vision where low-cost sensors, processors, and communication are embedded into a wide array of products and our environment, allowing a vast network to collect data, analyze input, and automatically coordinate collective action.

Moore's Law

Chip performance per dollar doubles every eighteen months.

solid state electronics

Semiconductor-based devices. Solid state components often suffer fewer failures and require less energy than mechanical counterparts because they have no moving parts. RAM, flash memory, and microprocessors are solid state devices. Hard drives are not.

microprocessor

The part of the computer that executes the instructions of a computer program.

price elasticity

The rate at which the demand for a product or service fluctuates with price change. Goods and services that are highly price elastic (e.g., most consumer electronics) see demand spike as prices drop, whereas goods and services that are less price elastic are less responsive to price change (think heart surgery).