Pixels are the tiny dots that make up images on screens. The display resolution is the number of pixels that can be shown. Common file formats include BMP for bitmaps, PNG for lossless web images, GIF for simple images and animations with 256 colors, TIFF for professional photos, JPEG for digital camera photos, PSD for Photoshop files, PDF for documents, EPS for graphics, and AI for Adobe Illustrator files. File compression reduces file sizes using algorithms, while digital asset management involves ingesting, cataloging, storing and distributing digital media like photos and videos.