Here's how to break down the name:

* Sc: This symbol represents Scandium, a transition metal.

* P: This symbol represents Phosphorus, a nonmetal.

* 3: The subscript "3" indicates there are three Scandium atoms in the compound.

* 2: The subscript "2" indicates there are two Phosphorus atoms in the compound.

Since Scandium is a metal and Phosphorus is a nonmetal, the compound is an ionic compound. Ionic compounds are named by stating the name of the metal followed by the name of the nonmetal with the suffix "-ide".