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It is a collection of files (known as Modules) that contains functions for use by other programs. Libraries allows you to perform lots of actions without writing your own code, this mean that are a reusable piece of code that we can add to our programmes. Some examples: Numpy, Pandas, Pygames, Matplotlib.

Additional information

Module - It is a file which contains some Python code. Packages -Are the files which are downloaded and installed by installers.

References

Python library

Library