An integrated circuit consists of active and passive components fabricated together on a single crystal of silicon. It offers advantages like miniaturization, cost reduction, improved reliability and performance. The basic processes to fabricate monolithic ICs include silicon wafer preparation, epitaxial growth, oxidation, photolithography, diffusion, ion implantation, isolation techniques and metallization. Each process involves multiple steps to introduce impurities, create circuit patterns and interconnect components on a chip, which is then packaged.