This document discusses the differences between vector and raster graphics, as well as common graphic file formats. Vector graphics use individual objects like lines and shapes, result in smaller file sizes, and allow unlimited resizing without quality loss. Raster graphics use pixels to represent images and are better for photos but result in larger file sizes. Common vector formats include SVG, AI, CDR, and DWG, while common raster formats include TIFF, BMP, JPG, PNG, with JPG being most common due to significant file size reductions from lossy compression.