Raster graphics use pixels to form images, so file sizes are large and quality degrades with resizing. Vector graphics use mathematical formulas to define shapes, so they scale smoothly and have smaller file sizes. Common raster formats include JPEG, TIFF, GIF and BMP, which vary in features like compression, transparency and quality. Vector formats include AI, PSD and WMF. Optimizing images like reducing size and compressing makes files smaller for faster loading online, but degrades quality. Factors like layers, effects and scaling impact file sizes of programs like Photoshop. Organizing files with accurate naming and folders aids efficient asset management.