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'EZ' is meant to be read as 'Easy', I think.

Yep. It's embarrassing how long it took a teenage me to figure that one out, though.

Hoover (vacuum), Xerox (copy), Flex (angle grinder), the bright yellow post it note (3m trademark), pretty funny stuff

I believe the confusion is over the letter Z. Commonwealth countries would pronounce that "zed" while in America that letter is pronounced "zee" (rhyming with letters like B, C, D, etc.).

EZ would be pronounced "easy".