Final answer:
The industry-standard term for describing requirements is the business requirements document (BRD). Other commonly used terms include software requirements specification, product specification, functional specification, requirements document, and system specification.
Step-by-step explanation:
The industry-standard term for describing requirements is business requirements document (BRD). A BRD is a formal document that outlines the high-level business needs and expectations for a software project. It provides a detailed description of what the software should do from a business perspective, including functional and non-functional requirements.
Other terms such as software requirements specification, product specification, functional specification, requirements document, and system specification are also commonly used but may have slightly different meanings depending on the organization or industry.