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There is the byte, kilobyte, megabyte, gigabyte, and terabyte.

A byte is just 8 bits, 8 "binary digits", which can be anything from 0000 0000 to 1111 1111 (which is 255 in base 10).

A kilobyte is 1024 bytes.

A megabyte is 1024 kilobytes.

A gigabyte is 1024 megabytes.

A terabyte is 1024 gigabytes.

There are other prefixes, but they are not commonly used outside of supercomputer environments.

Source of information:

http://www.LiquidNitrogenOverclocking.com

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