FIFO: First in first out. The element which comes first in list will be taken out first.
LIFO: Last in first out. The last added element in list will come out first.
Stack data structure uses LIFO and Queue uses FIFO
A linear list is an ordered set consisting of a variable number of elements to which addition and deletions can be made. A linear list displays the relationship of physical adjacency.
Next element to the head of the List is called its successor. Previous element to the tail (if it is not the head of the List) of the List is called its predecessor.