After reading a good post from "wikipedia.org", I learn that the actual name of a chip is an, integrated circuit or even monolithic integrated circuit. They basically state that hey, this device, and I quote, "is a set of electronic circuits on one small plate of semiconductor material, normally silicon." End quote.
And I'm like huh? That little sentence took me to school, again. I have heard of an, electric circuit, but I'm not too sure about an electronic circuit. And now instead of the familiar, conductor material, we are now talking about, semiconductor material and its silicon. Whew, more research.