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In an integrated circuit or IC, the components and interconnections are formed on the same substrate, typically a semiconductor such as silicon or (less commonly) gallium arsenide. Similarly, an overdriven transistor amplifier can take on the characteristics of a controlled switch having essentially two levels of output. When speaking of a high-tech society in a non-literal way, it is usually in reference to an overall society based in high-tech. In industry, companies working in the leading edge may be considered high-tech societies along with its main competitors, regarding the rest of the sectorial competition. The help desks of a multinational corporation might thus employ, successively, teams in Kenya, Brazil, the Philippines, or India, with the only requirement fluency in the mother tongue, be it Spanish, Portuguese or English.

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Wires are treated as transmission lines, with (hopefully) constant characteristic impedance, and the impedances at the start and end determine transmitted and reflected waves on the line. Electronic components have two or more electrical terminals (or leads) aside from antennas which may only have one terminal. In an integrated circuit or IC, the components and interconnections are formed on the same substrate, typically a semiconductor such as silicon or (less commonly) gallium arsenide. Wires are treated as transmission lines, with (hopefully) constant characteristic impedance, and the impedances at the start and end determine transmitted and reflected waves on the line. In fact, many digital circuits are actually implemented as variations of analog circuits similar to this example—after all, all aspects of the real physical world are essentially analog, so digital effects are only realized by constraining analog behavior.

As digital circuits become more complex, issues of time delay, logic races, power dissipation, non-ideal switching, on-chip and inter-chip loading, and leakage currents, become limitations to the density, speed and performance.

Thus a multinational corporation might work on a project 24 hours a day, with teams waking and working with the advance of the sun across the globe; such projects might be in software development or in the development of an integrated circuit.

Electronics deals with electrical circuits that involve active electrical components such as vacuum tubes, transistors, diodes and integrated circuits, and associated passive electrical components and interconnection technologies.