I have used keyup to bind an input element to a function text_1. The function somehow gets the value of the text field by $(this).val(). 
I tried to understand this, but the best explanation is "this always refers to the “owner” of the function we're executing". What is the "owner" in this case? How does $(this).val() become the value of the field? What gets passed when keyup occurs?
I am a newb in Javascript and jQuery.
   function text_1() {
     var val = $(this).val(),
       html = 'Not-debounced AJAX request executed: ' + text_counter_1++ + ' times.'
       + ( val ? ' Text: ' + val : '' );
     $('#text-type-1').html( html );
   };
   $('input.text').keyup( text_1 );
 
    