IC chips, or Integrated Circuits, are small electronic devices that integrate multiple interconnected electronic components onto a semiconductor wafer. Capacitance is the measure of a capacitor’s ability to store electrical charge. Resistors restrict the flow of electric current in a circuit. Inductance is a property of a circuit or component that opposes changes in current and is associated with inductors, which store energy in the form of a magnetic field. IC chips are widely used in electronic devices, while capacitors, resistors, and inductors are essential components in electronic circuits for various purposes.