Is I2 an Atomic Element, a Molecular Element, an Ionic Compound, or a Molecular Compound? Explain.

I₂ is classified as a molecular compound. This distinction is made because I₂, or iodine, exists as diatomic molecules where two iodine atoms are covalently bonded together. Unlike ionic compounds, which are formed from the electrostatic attraction between oppositely charged ions, or atomic elements that consist of single atoms, I₂ specifically forms discrete molecules. These molecular compounds, made up of nonmetals, have unique properties derived from the covalent bonds that hold the iodine atoms together. Thus, we can conclude that I₂ is indeed a molecular compound due to its diatomic nature.