If a megabyte was a volume of liquid, eg. 1ml (actually 1.024KB or 1MB), the amount of space it would take up in a drum/storage container, (Hard drive, DVD, USB drive etc), that can hold 100 Litres would be 1ml. One Gigabyte of liquid would take up 1 litre of free space, leaving you 99 Gigabytes of free space to add any other programs or files.
The smallest amount of information comes in bits: 01010111 8 bits in a byte 1024 bytes in a kiloByte 1024 Kilobytes in a MegaByte 1024 Megabytes in a GigaByte 1024 Gigabytes in a TeraByte
*Note - Never put liquid in your computer storage device