1) What is a continuity? What is a discontinuity?
A continuity is when a function proceeds without interruption, meaning that there are no discontinuities. Continuous functions are predictable, and one would be able to draw the function in its entirety without lifting their writing utensil. To extrapolate on my earlier point of "no discontinuities", I meant that the function contains no holes, breaks, or jumps - respectively, a missing point in the graph, a vertical asymptote which invalidates a specific x-value, or a random jump up or down in the function. A continuous function looks like this:
A discontinuity is when a disruption in the continuation of a function occurs. This may occur through either removable discontinuities - holes, or non-removable discontinuities - jumps, oscillating behavior, or unbounded behavior. Holes are when there is a missing point in the graph, jumps are when a graph drops/jumps, oscillating behavior is when there are wiggles, and unbounded behavior is when there is a vertical asymptote. The reason why we separate these into two families, is because removable discontinuities have limits, because their left/right limit values are the same, as we can see in the picture below. Therefore, the non-removable discontinuities must not have limits - due to different left/right limit values, no exact point, or unbounded behavior.
2) What is a limit? When does a limit exist? When does a limit not exist? What is the difference between a limit and a value?
A limit is an intended value of a function. It exists when a function is continuous, or when there is a jump discontinuity (a removable discontinuity). This is because as long as you can trace along the function from both sides and end up at a single, same point on the graph, there is an intended value. It doesn't exist when there is a non-removable discontinuity within the function - namely, jumps, oscillation, or unbounded behavior. This is because you can't end up at a point by tracing from left/right of the point, because of a sudden change in the y-value, no specific coordinate, or a restriction upon a value, respectively. The difference between a limit and a value is that a limit is intended, while the value is what is actually there. In the bottom example, the limit of the function is -2, but the actual value of the function is 2.
3) How do we evaluate limits numerically, graphically, and algebraically?
To evaluate a limit numerically, one would set up a table with values very near the point which you are trying to reach, and what they end up being after you plug them into the function. In the example below, you would reason that whatever is between the values which are very close to the intended point, is between the left/right close values, just as you would with any other numerical evaluation of a limit.
To evaluate a limit graphically, you would simply trace from left/right of the point, in order to find the limit. In the previous example, you would trace left/right of the x-value of 1, and end up ending up at 1 for your limit.
To evaluate a limit algebraically, you would utilize algebra skills in order to find a way in which you can plug in the number which x approaches to get something other than indeterminate form, or infinity of some sort, which are the only two restrictions for evaluating limits algebraically. The very first method in which you would try to evaluate a limit algebraically, would be plugging in the number which x approaches directly into the function. If that results in indeterminate form, or infinity, then you must move on to factoring, which would remedy the issue of indeterminate form. When you can't factor to prevent indeterminate form, you have to multiply by conjugates, usually for radicals, in order to get something other than indeterminate form. Lastly, if you have infinity of some sort, you would have to divide the entire function by the highest power variable in order to somehow fix the problem, and get an answer with substance - without the vagueness of infinity.