What is ground beef? I keep hearing about Ground Beef, but I'm from Australia and I've never actually seen it before.

Is it the same thing as Minced Beef? Or different? Is Minced beef an acceptible substitute if they're not the same thing?
Here's a picture of some raw ground beef from the Wikipedia ground beef article so that you can see for yourself.  Basically it is beef that has been run through a meat grinder, great for making taco meat, hamburgers, and the like.