ABV - This stands for ‘Alcohol By Volume’ and is a term used when describing how much alcohol a certain liquor contains. The higher the ABV the stronger the drink will be not only in content but also in taste. It’s important for bartenders to know the alcohol content so they can adjust their recipe when making cocktails. Furthermore, they can ensure customer safety and make sure no one is getting too drunk too quickly.
Dash - A dash may not sound like much but it is in fact enough to alter the flavor of a drink. A dash usually refers to about ⅛ teaspoon of an ingredient such as bitters. You don’t need much because bitters or other ingredients like it are very concentrated in flavor, which is why you only need - a dash!
Dram - It usually refers to a small drink or a small amount of something such as a shot of whisky. It doesn’t have a specific measurement but most people think it’s around ⅛ ounces of liquor. It’s usually any liquor that you can swallow in one go. The word dram comes from the Greek word ‘drakhme’ which refers to coins or treasure.
Pony - This is a slang term used by bartenders to refer to a shot that amounts to one ounce. A usual full shot is usually an ounce and a half, and a pony shot just contains a little less.