1. An arithmetic sequence is a sequence where each term is calculated by adding a fixed amount, called the common difference, to the previous term. 2. The common difference is found by subtracting the first term from the second term. This yields the constant value that is added to each term to generate the next term. 3. Formulas can be used to find a specific term in an arithmetic sequence or the sum of terms, given the first term, common difference, and number of terms.