Wisdom Teachings - Sat Yoga, Costa Rica

Student Question:  In English we use the terms like “she’s got it,” or “they want to have it,” or “someone wants to be it,” but always using the word “it.”  When I have tried to translate it into Spanish, there is no way just to say “it.”  It makes me wonder, what is the real etymology of the word “it?”  I mean is “it” ultimately like “that?”  God: is that what “it” is?