It is pi, a letter in the Greek alphabet, and pronounced like pie. This infinite value, usually expressed as 3.14 or sometimes more accurately as 3.1416 is the ratio of the diameter (distance across) a circle, and the circumference (distance around) a circle. The diameter times pi equals the circumference, and the circumference divided by pi gives the diameter. Also, the radius (half the diameter) times itself and then multiplied by pi gives the area inside a circle. The value of pi is the same regardless of the size of a circle.
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In relation to the area of a circle: pi*radius^2
A pie chart would show this. The full circle represents the whole, and each slice shows how big each part is in relation to the whole.
Circle Chart or Circle Graph
sector
How big is the pie? Or, if you're speaking of pi, you have to know the size of the circle.