Hi Lawrence, yes, you're correct. 'Pantsuit' is an American term, where 'pants' mean slacks - or 'trousers' in British English. So a woman's suit would be a matching skirt and jacket, and a pantsuit would be one with pants / slacks. A man's suit would just be a suit, as they will always wear pants. Be careful with the difference between American and British English, however, as in the UK 'pants' are underwear!