1 Mbps connection = 1,000 Kbps
I saw another post about this confusion of bits and bytes, and was not convinced with the representation. So trying to illustrating here my way.
The Internet connection speed is measured in bits.
Megabits (Mb) or Kilobits (Kb).
1 Mbps connection = 1,000 Kbps
It is not the same as Megabytes (MB) or Kilobytes (KB) that are typically used to measure file sizes on a hard disk.
1,000 Kbps ~= 125 KBps
[1 Byte = 8 Bits]
Therefore if you ask for a 1Mbps broadband connection, it will take minimum 8 seconds to download a 1 MB file from the internet.
In the picture am downloading a software and the transfer rate is 71.8 KBps.
71.8KBps = 71.8 X 8 ~= 574 kbps ~= half of 1000 kbps ~= 0.5 Mbps connection.
So am connected to a half Mbps LAN connection at office.
Just look at the connection speed with other connection types.
Test your internet speed here.