Data rates are measured using a variety of standardised conventions.
They are usually multiples of bits per second (bit/s) or bytes per second (B/s). bit and Byte are ISQ symbols (International System of Quantities).
Residential Internet speeds are often measured in Megabits per second (Mbit/s - often abbreviated Mbps - as you will see in the Windows Network Speed Test application). 1 Mbps is 1000 kilo bits per second, or 1000 kbit/s or 1000 kbps).
There is also the Mibit/s convention - which stands for mebibits per second (or MiB/s).
This is 2^20 bits per second, or 1,048,576. Just over a million bits per second, basically.
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