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Comic book
Comic books, either one long story or many multi-page stories within one book, are usually the size of a typical magazine. However, to save on paper and printing costs (or just to be different), many underground comic creators make "mini-comics" printed at a smaller than normal size, such as four by five and a half inches (the size of a standard piece of letter paper folded twice).
Graphic novel
A graphic novel is a fancy name for a long-form comic book. It is usually one complete comic story in a full size book. Collections of stories can also be in graphic novel form.
Multi-panel comic
There is no limit to the number of panels you can create in a multi-panel comic. If you are creating a comic strip (see glossary), it is common to use three panels: the introduction, the set-up and the punch line. For full-page comics, it's up to you to fit as many or as few panels as you want.
One-panel
One-panel comics are one image and usually include a caption. An example is Gary Larson's "The Far Side."
Webcomic or Online Comic
A webcomic is a printable comic that has been published online. Many comic creators publish their work online to reach a wider audience. However, there are some unique things webcomics allow you to do that printed comics don't, such as animation or non-linear storytelling.