IQ simply stands for intelligence quotient. It is called a quotient because, originally, it was measured as the ratio between a subject's mental age and their actual biological age. The number is the result of a number of standardized tests which measure a person's ability to perform certain tasks which can reasonably be expected of a person in that society to perform. So, for example, an IQ test for an American would be very different from an IQ test for someone from another country.