FM is superior to AM for radio broadcasting for several reasons. FM uses less power than AM, is more economical, has better coverage without static, and does not require a subscription. An FM receiver uses an antenna to capture radio waves which are then amplified and passed through various components like mixers, oscillators, and detectors to extract the audio signal and amplify it for playback through a speaker. In conclusion, FM broadcasting and receivers provide an improved radio experience over AM technology.