The speed and power of a processor (aka the 'brain' of your computer) determines how well and how fast your computer can do things like create spreadsheets, play games, browse the internet, run software, and more. The more cores a processor has, the better it will be at doing multiple things at once.

Memory or Random Access Memory (RAM) allows your computer to multitask. It temporarily stores data and the higher number of GB (Gigabytes) means more applications can be running in tandem without slowdowns. Some intensive applications for gaming or video editing, require more RAM for optimal performance.
Memory described as 'DDR' stands for 'Double Data Rate' and processes data approximately twice as fast as a standard memory module. When a number appears after DDR (ie DDR3) that type of memory is approximately twice as fast as the previous generation.

The hard drive is where a computer stores all files, pictures, music, and programs. Different from memory which is temporary when in use, storage determines how much data can be saved on the computer. Measured in  Gigabytes (GB) and Terabytes (TB). Terabytes are 1,000 gigabytes.
There are HDD (hard disk) and SSD (solid state) drives. SSDs are faster and use less energy, while HDDs have the ability to store more data and are typically larger in size.

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