Final answer:
The numbering system utilizing 0 and 1 in the computer industry is known as the Base 2 or binary system. Each 'bit' is a digit in the binary code, and 8 bits form one byte. A megabyte (MB) represents one million bytes in computer memory.
Step-by-step explanation:
The numbering system that utilizes 0 and 1 in the computer industry is the Base 2 system. This system is also known as binary code, which is fundamental to computer processing, storage, and communication. Each digit in binary is referred to as a bit, and this base-2 numeral system forms the basis for all binary code and data representation in computers.
In the context of computer memory, the basic unit is the byte (b), which is made up of 8 bits. One million bytes is referred to as a megabyte (MB).
Our conventional counting system is based on the Base 10 system, also known as the decimal system, primarily because humans have ten fingers. This system works on powers of ten, where each place value is ten times greater than the one to the right of it. In scientific notation, the number 10 is used as the base (N x 10), which indicates how many times 10 is raised to a certain power.