Audio file Types
An MP3 File is the smallest file , it has low quality , Frequencies, It is good quality, it is a Lossy type file. It is also compressed (audio Data Compression) which means it has lost Data.
Flac (Free Lossless audio codec) it has no data discarded, it has a reduction in size, it maintains its quality and has a medium file size. It has better quality than the MP3 and its audio data compression is also compressed.
WAV is uncompressed, this file is the largest of them all. It has the highest quality and is the largest size. It Is also lossless.