Lumber has certain standard classifications:
Timbers are 4 inches or larger in the smallest dimension.
Joists are 4 inches thick and 8 inches wide or larger.
Scantlings are 2 inches thick or larger, but less than 8 inches wide.
Planks are over 2 inches but under 4 inches thick, and are 8 inches or wider.
Common boards are less than 2 inches thick and are 8 inches or wider.
Strips are less than 2 inches thick and less than 8 inches wide.
Surfaced or dressed lumber is run through a planer, and even though its width and thickness have been reduced by smoothing, it is charged for by the original rough lumber dimensions. (Just like buying a chicken before it's dressed, you pay for the original weight.) A two-by-four scantling would measure that when rough, but after being dressed on all 4 sides would be only 11/4 inches by 33/4 inches. Planing usually takes off about 1/8 inch per side, but this may vary; it is very helpful to measure each piece.
Surfaced lumber is designated by coding: SIS means the board is surfaced on one side, with the other side and both edges left rough. S2S means surfaced on both sides with the two edges rough. S1E would be surfaced on one edge only. Other combinations might be S1S2E (surfaced on one side and both edges) S1S1E, S2S1E, or when the board has been surfaced or planed on all 4 sides and edges, it is listed as S4S.
Hardwoods are usually carried in 1/2 to 6 inches thick, 3 to 12 inches wide, and from 2 to 16 feet long. These are the original rough lumber measurements, so estimates of finished work should be made with the knowledge that the surfaced lumber will not be as wide or thick as the standard-stock dimensions. Lumber can be cut or planed to specific sizes not in stock, while the handyman waits. For special work there is often a "cutting" charge added to the lumber's price.
Moldings and special shapes are called "worked lumber" and can be ordered through your yard or supplied by a mill.
Lumber is sold by the board foot, an amount of wood 1 inch thick by 1 foot wide by 1 foot long. Prices for lumber are usually quoted in M (thousand) board feet. Plywood and veneer panels are sold by the square foot, laths and shingles by the bundle. Moldings, dowels, and often two-by four's are sold by the running foot, regardless of thickness and width. The prices by the running foot, however, have usually been carefully calculated from the board foot price.