Network topology refers to the arrangement of elements like nodes, links and peripherals that form a communication network. The key types of network topologies include bus, star, ring, mesh and hybrid. Bus topology uses a single cable to connect all nodes but if it fails the whole network fails. Star topology connects all nodes to a central hub providing easier troubleshooting but a single hub failure disables the network. Ring topology connects each node in a circular fashion allowing orderly flow but a single node failure takes the whole network down. Mesh networks provide robust connectivity through redundant links but have higher implementation costs. Hybrid topologies combine two or more topologies to gain advantages while reducing disadvantages.