A million is 10^{6}, or 1,000,000. A billion is one thousand million, or 1,000,000,000 (10^{9}). This is the common usage in Englishspeaking countries and is called the short scale. Countries in continental Europe and Latin America use the long scale where a billion is a million millions (10^{12}).
The word billion originated from French word bi (“two”) + illion; i.e. a million million. It was first coined by Jehan Adam in 1475 as bymillion and then rendered as byllion by Nicolas Chuquet in 1484.
Million originated from the Italian milione, from the Latin mille + the augmentative suffix one.
Comparison chart
Billion 
Million 


Power of 10  10 to the 9th power (10^9)  10 to the 6th power (10^6) 
Number  1,000,000,000  1,000,000 
edit Magnitude of the difference
The magnitude of difference between billion and million can be illustrated with this example of the time scale:
 A million seconds is 12 days.
 A billion seconds is 31 years.
 A trillion seconds is 31,688 years.
edit Other large numbers
 Million=1,000,000
 Billion=1,000,000,000
 Trillion=1,000,000,000,000
 Quintillion=1,000,000,000,000,000,000
 Sextillion=1,000,000,000,000,000,000,000,000.
 Nonillion=1,000,000,000,000,000,000,000,000,000,000
 CENTILLION=1 followed by 303 zeros
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