Does iTunes store your apps, even if you delete them from your phone?

Sorry, I’m sure this is probably very obvious. But I wouldn’t mind someone explaining this to me.

I bought an iPhone a few weeks ago, and I’ve downloaded some apps. When your sync your iPhone to your iTunes, does iTunes keep your apps?

For instance, if I delete an app from my phone to save space, can I later retrieve and download it back onto my phone from my iTunes purchases?

Thanks so much for the help