What are the characteristics of the following file formats:

Bitmap: An image format that only defines an image in terms of black and white.

GIF: Graphics Interchange Format, is a compressed graphic file normally used for images that do not require too many colors (maximum 256).

PNG: PNG is a graphics format specifically designed for use on the World Wide Web. PNG enable compression of images without any loss of quality, including high-resolution images.

JPEG: JPEG graphics are capable of reproducing a full range of color while still remaining small enough for Web use. Most of the photographs you see on the Web are JPEG format.

PSD: the default proprietary file of Adobe Photoshop. It allows for Adobe Photoshop formatting, Layers, DropShadows, etc. and is compatible with a variety of Adobe software such as InDesign.

SVG: Scalable Vector Graphics is a vector graphics language written in XML. Using SVG, graphics can be coded directly into an XML document.