Answer:
Chemical symbol
This is used to identify an element without having to write the full name and as such is a designation for the element. It is used in chemical reactions and is usually either one or two letters. Some symbols are, Iron - Fe, Hydrogen - H and Oxygen - O.
Valency
This refers to the capacity of an element to combine with another to form a compound. It is measured by the number of electrons that an atom of an element gains, looses or shares when a chemical reaction involving it takes place.