1. A multivibrator can implement simple two-state systems like oscillators, timers, and flip-flops. There are three types: astable which oscillates between states, monostable which is stable in one state until triggered to the other, and bistable which remains in either state.
2. An astable multivibrator consists of two amplifying devices cross-coupled by resistors and capacitors that cause it to continuously oscillate between two states.
3. A monostable multivibrator is stable in one state until an external trigger briefly changes its state, after which it returns to the original stable state for a set time period, functioning as a timer.