It depends on which type of pound you are referencing. There are 16 ounces in an Avoirdupois Weight pound. There are 12 ounces in a Troy Weight pound and 12 ounces in a pound of Apothecaries' Weight. In the USA, the Avoirdupois unit is the standard, which makes the US pound equal to 16 ounces. You can find out more about these different units of mass in Wikipedia
To put the pound into food perspective, a tasty Burger King Whopper weighs in at around 10 ounces (before being cooked, of course), which is just over a half pound of meat.
The multi-talented Google also offers its services as an online calculator. Head to Google.com and enter the text "how many ounces in a pound?" and click the "Search" button. Google realizes that your question can be answered by its calculator, so it returns the answer "1 pound = 16 ounces."