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A bit is a single 1 or 0 used to store digital information. 8 bits make up 1 byte, which can store a single character. Storage sizes are measured in bytes, kilobytes (1024 bytes), megabytes (1024 kilobytes), gigabytes (1024 megabytes), and terabytes (1024 gigabytes), with each increasing unit being 1024 times larger than the previous one.


