It’s all how the information is sent from one place to another. To keep it simple, if you were trying to send a text message to someone over AM radio, you would change the power levels to send your alphabet, with each power level representing a letter. Whoever is on the other end knows what levels equal what letters, so they measure the strength of the signal as it comes in and write down the letters accordingly. FM, on the other hand, changes the frequency on which you’re sending the signal in order to send the letters. The signal moves between those frequencies and whatever frequency it is on at whatever time is what letter is being sent.
Or, if you prefer to use a flashlight/torch, with AM each letter would have a different power settings, while FM would keep the same power level but each letter would be a different color.
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