What is a magnetically coated ribbon of plactis capable of storing large amounts of data and information at a low cost?

A magnetically coated ribbon of plastic capable of storing large amounts of data and information at a low cost is known as magnetic tape. This storage medium uses magnetic properties to encode data, allowing for efficient and economical long-term storage. Magnetic tape is commonly used for backup and archival purposes due to its high capacity and durability. Despite the rise of solid-state and cloud storage, it remains a viable option for large-scale data storage needs.