Its and it’s sound the same but are spelled differently and have different meanings. Its is a possessive pronoun that means “belonging to.” It’s is a contraction that means “it is” or “it has.”

A contraction is a shortened word made by joining two words such as he will; he’ll and could not; couldn’t. The apostrophe takes the place of the missing letter(s).

Example

Do you know of any country that celebrates the invention of its / it’s alphabet?