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L

Layer

Layers are like transparent sheets of acetate stacked on top of each other. Layers help you organize the artwork in your document. You can draw and edit objects on one layer without affecting objects on another layer. Where there is nothing on a layer, you can see through it to the layers below.

Layers

Layering is the organization of programming into separate functional components that interact in some sequential and hierarchical way. (whatis.com)

Library

The library is used to store and organize symbols that are created in flash. 

Loop

A loop  is a sequence of statements which is specified once but which may be carried out several times in succession. The code "inside" the loop is obeyed a specified number of times, or once for each of a collection of items, or until some condition is met.