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           Raj, 
          One million is 1,000,000 and one thousand is 1,000. Hence 
          
            1,000   1,000 = 1,000,000 
             
          and hence a thousand thousands make a million. 
          Once you go beyond a million the naming gets more complicated. For example see  Billions and more! and Billions and more! and even more! 
          Penny 
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