The document defines a lathe as a machine that removes metal from a workpiece to shape it. A lathe operates by rotating the workpiece while a fixed cutting tool is fed into it. Key components of a lathe include the bed, carriage, headstock, tailstock, and feed rod. Common types of lathes are engine lathes, bench lathes, speed lathes, automatic lathes, turret lathes, and computer controlled lathes. Basic lathe operations include turning, facing, boring, drilling, reaming, threading, and knurling.