Contrast sensitivity is the ability to perceive slight differences in luminance and is important for vision. It is measured using charts with letters or gratings of decreasing contrast. Contrast sensitivity is affected by factors like spatial frequency, luminance, and target size. It is assessed using tests like Pelli Robson, FACT charts, and Cambridge Low Contrast Grating which help evaluate vision problems better than visual acuity alone. The visual system processes contrast through multiple parallel channels sensitive to different spatial frequencies.