Moore's law refers to?

Moore's law states that processor speeds, or overall processing power for computers will double every two years.

Explanation:

Moore's law is more than an observation than a law which was originated in 1970. The observation is about the number of transistors that is present in any system or an integrated system that will be doubled every couple of years. The real-world application of Moore's law can be seen during computing your business taxes, piloting a spaceship, or changing the television station, etc.