Memory
Typically think of a memory device as used for storing data.
A Memory chip is characterized by how many locations it contains and how many bits per location it can hold.
Memories are classified as K x N devices, K is the # of locations, N is the number bits per location (16 x 2 would be 16 locations, each storing 2 bits).
To access a LOCATION within a memory device, a group of inputs known as the ADDRESS BUS is used. The number of address lines needed is log2(K) (I.e., for 16 locations would need 4 address lines).
The data at a location is placed on some outputs known as the DATAOUT bus.