Graphics can be any non-text elements on a page, ranging from simple lines to complex images. Common graphic file formats include JPEG, PNG, GIF, TIFF, and RAW. JPEG uses lossy compression to produce small file sizes but degraded quality, while PNG, TIFF, and RAW can be lossless, maintaining exact quality but producing larger file sizes. GIF is limited to 256 colors making it suitable for simple images like diagrams, while BMP is uncompressed and large in size but widely supported on Windows.