LAN: (Local area network)
Advantages:
If your network is behind a good Firewall then it makes attacks much more difficult
A LAN allows more than one device to share information between each other like in a office if you had 5 computers and one printer all of the computer would be able to print to the same printer.
Disadvantages:
Every time you add a new device you'll need to add more wires
For only wireless devices like phones you wont be able to access the internet with it
NIC:
NIC is also known as a Network interface controller
The controller implements the electronics to communicate with each other
HUB:
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