An embedded system is a combination of hardware and software designed to perform a dedicated function. It contains a microcontroller or microprocessor along with memory, input/output components, and other peripherals designed for a specific task. Real-time embedded systems must perform their functions within a certain time period. Embedded systems are found in devices like home appliances, vehicles, and industrial equipment. They have advantages over general purpose computers in terms of cost, size, power consumption, and reliability.