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For most people, those two activities are by far the biggest bandwidth hoggers.
See How to Test Your Internet Speed for help on how to accurately determine how much bandwidth you have available to you.
You can use an online conversion calculator like this one if you'd rather not do the math manually.
See Mb vs MB and Terabytes, Gigabytes, & Petabytes: How Big are They? Some software lets you limit the amount of bandwidth that the program is allowed to use, which is really helpful if you still want the program to function but it doesn't necessarily need to be running at full speed.
It's important to understand that bandwidth can be expressed in any unit (bytes, kilobytes, megabytes, gigabits, etc.).
Your ISP might use one term, a testing service another, and a video streaming service yet another.
Say you're streaming a movie, someone else is playing an online multiplayer video game, and a couple others on your same network are downloading files or using their phones to watch online videos.
It's likely that everyone will feel that things are a bit sluggish if not constantly starting and stopping. To return to the plumbing analogy, assuming the water pipe to a home (the bandwidth) remains the same size, as the home's faucets and showers are turned on (data downloads to the devices being used), the water pressure at each point (the perceived "speed" at each device) will reduce — again, because there's only so much water (bandwidth) available to the home (your network).
If you have a few TVs that will be streaming Netflix, and more than a few computers, tablets, and other devices that might be doing who-knows-what, I'd go with as much as you can afford. In other words, as the bandwidth increases so does the amount of data that can flow through in a given amount of time, just like as the diameter of the pipe increases, so does the amount of water that can flow through during a period of time.
Something similar to bandwidth control is bandwidth throttling.
This is also a deliberate bandwidth control that's sometimes set by internet service providers to either limit certain types of traffic (like Netflix streaming or file sharing) or to limit all traffic during particular periods of time during the day in order to reduce congestion.
Maybe you suspect that you should buy more bandwidth or that you're not getting what you're paying for.
Or, maybe you're about to buy a gaming console or video streaming service and need an accurate understanding of whether or not you can do so without it negatively impacting the rest of your network.
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However, when written in megabits (Mb), the first would be 120 Mbs (15x8 is 120) and the second 15 Mbps.