The document defines key layout and design terms used in magazines, including the masthead, fonts, body copy, drop caps, crossheads, white space elements like gutters and leading, strap lines, and additional terms like house style, banners, mode of address, anchorage, by-lines, and picture credits. It explains that the masthead contains the magazine name and logo, body copy is the main article text in serif font, and drop caps and crossheads are larger text elements used for subheadings. It also outlines the uses of sans serif and serif fonts as well as different white space elements in magazine design.