This lecture covers the properties of limits related to exponential and logarithmic functions, including indeterminate forms, limits at infinity, and the definition of the natural logarithm. It also introduces the concept of reciprocal functions and the properties of logarithmic functions, such as the logarithm of a product, quotient, power, and the base. The instructor explains how to determine limits involving factorials and square roots, emphasizing the importance of understanding these concepts for calculus.