Points and picas are units used to measure type as they allow for smaller increments than fractions of inches, with 1 point equaling 1/72 of an inch and 1 pica equaling 12 points. Common abbreviations include points as pts and picas as p, and conversions include 1 pica and 6 points equalling 1 pica + 6 points and 18 points equalling 0.25 inches.