Taking screenshots on your new device is a great way to show off your home screen, or even show a friend what settings they need to have in a particular app. It wasn't long ago that root access, a third-party app, or even the Android SDK was required to take a simple screenshot.
To take a screenshot on your new Nexus 7, hold in the volume down and the power buttons at the same time. After a brief pause, you'll hear an audible noise and see an animation. Here's a quick video of how it looks:
Sharing the screenshot is just as easy with the new notification actions in Android 4.1 Jelly Bean. Pull down your notification tray, tap on share under the screenshot, and select the service you want to share it with.
It's that easy.