Latency vs Throughput
A very commonly misunderstood terminology that are closely related but are vastly different.
An analogy that stuck deeply with me is the washing machine cycles highlighted in this video from MIT where latency can be understood as the time taken for each wash cycle and throughput can be understood as the number of cycles completed per unit time.
Another great analogy is ordering food in a restaurant. the latency can be understood as the time in which the order from the customer is served and throughput is the number of orders served per unit time.
Note the subtle differences:
Latency is a measurement of duration in time while Throughput is a measurement of frequency