What part of speech is “its”

It's is an example of a contraction, which is a phrase made by joining two words with the omission of a sound or letter. It's is formed by contracting pronoun 'it' and verb 'is,' which is used to refer to situations that happened in the past or will happen in the future. Contractions can be used to reduce redundant words or to make informal speech more concise.

Contractions can only be used to contract two words into one; it is not possible to contract more than two words. For example, 'I have' can be contracted to 'I’ve' but it is not possible to contract 'I have not' to 'I’vn’t.' Additionally, contractions are typically used to represent informal and colloquial speech, and are generally avoided in formal writing. However, they can occasionally be used in more formal contexts, when the writer wants to create an informal tone or emphasize something.

1. I think it's a good idea.

2. It's been a while since I've seen you.

3. Don't worry, it's not as bad as it seems.

It is important to note the difference between 'it’s' and 'its.' The former is a contraction meaning 'it is,' while the latter is a possessive adjective signifying belonging or ownership. For example, 'the dog wagged its tail,' not 'the dog wagged it’s tail.'