Y=3x+5
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An equation
That is the definition of the term "equation".
The difference between these two is that an expression only contains variables, numbers, and mathematical symbols, and an equation contains two expression with an equal sign that separate them. For example, while an expression is "2x-1", an equation is "2x-1 = 5x."
It is an inequality.
You are probably referring to an "equal to" sign (=). This sign makes one side of the equation equal to the other.