The common name for a liquid measurement equal to approximately 33.8 ounces is a liter. The liter is a unit of volume in the metric system and is widely used around the world for measuring liquids. It is equivalent to 1,000 cubic centimeters and is often used in cooking, beverages, and scientific applications. The liter is a more standardized measurement compared to quarts or gallons, which can vary in size depending on the country. In everyday terms, a bottle of water typically contains 1 liter, making it a familiar volume for many people.