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Since it's impossible for you to memorize all the terms in PS, I'll start by explaining some basic terms and will progress to some advanced terms as time goes on.
If you come across a term that you aren't able to understand even after googling it up, then feel free to ask it here.

HD - High Definition [ 1280 x 720 ; 1920 x 1080]
SD - Standard Definition [ Anything which isn't High Def.]
HQ - High Quality
.psd - [DO I seriously need to explain this? *sighs* fine] It stands for Photoshop Document......the format you use to save your [Photoshop]work in..
Vectors- resolution-independent images/shapes [in short these images will not pixelate when their size is increased]
DPI/Resolution - Dots Per Inch, indicates number of pixels to be distributed over one physical inch. Usually you set this to like 72 dpi for digital media, but you gotta increase the dpi to as high as 300dpi for if you creating something that has to be printed.

This should be enough to get you n00bs started. I'll keep updating this thread every once in a while.

-Pseudonymous

P.s : Any Free posting in this thread will result in your photo being manipulated to the point where you start to look like Jocelyn Wildenstein[Google it up dumbass].

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some basic but valuable stuff. Upping more