Temporal Key Integrity Protocol (TKIP) has three major components to address vulnerabilities.  List and describe them.

What will be an ideal response?

MIC- MIC (Message Integrity Check) protects against forgeries by ensuring that the message has not been tampered with, which CRC under WEP could not do. The original WEP design used a 24-bit initialization vector (IV) along with a secret key to generate a keystream. TKIP creates a different key for each packet.
IV sequence-TKIP reuses the WEP IV field as a sequence number for each packet. Both the transmitter and receiver initialize the packet sequence space to zero whenever new TKIP keys are set, and the transmitter increments the sequence number with each packet it sends. This ensures that an attacker does not record a valid packet and then retransmit it. Also, the length of the sequence number (IV) has been doubled, from 24 bits to 48 bits.
TKIP key mixing-WEP constructs a per-packet RC4 key by concatenating a key and the packet IV. The new per-packet key construction, called the TKIP key mixing function, substitutes a temporary (temporal) key for the WEP base key and constructs a per-packet key that changes with each packet. Temporal keys have a fixed lifetime and are replaced frequently.