Animation effects that allow the various elements on each slide to appear after a certain amount of time or when a presenter presses a button.
Slide master allows the style (font,font size, background, etc.) to be set once and then used throughout the presentation.
Transitions is how the presentation software "moves" the display of one slide to another. Transitions usually include dissolving from one slide to the next or the current slide being moved in some way to show the next slide as though it was underneath.