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Basically they can be considered the same thing.

Micro chip may refer to the fact that it contains a micro processor.

A microprocessor is an integrated circuit that is designed to handle instructions from a software program and form the core of a computer system.

Integrated circuits are any type of device, that has many components etched onto a single piece of silicon and embedded in a plastic package with conducting legs. They include microprocessors, but could be amplifiers, logic gates, memory storage, complete radios, or other dedicated circuits that do one job very well.

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