As a verb, I EDC a particular tool or gear set and its members.
As a noun, my EDC is either that set of tools or gear or a relevant member of that set, depending on context.
An "EDC Slot" is a category of gear that is part of my EDC.
I have an "EDC rotation" for each EDC slot in my EDC. That allows me to best meet the needs of the day and match what I'm wearing, what I'm doing, what I feel like, etc.
"An EDC knife" can be a member of that rotation or a knife worthy of belonging to that rotation for me or someone else, depending on context.
I typically refer to a knife as either "in my pocket", "in my EDC rotation", or "in a box somewhere" (etc.) if not in rotation.
A "primary EDC" is an item that gets carried most often in a particular slot.
My regular EDC slots include: Knife, Watch, Wallet, Phone, Gun, Multi-tool, Flashlight, Lighter, Medical Supplies, Bandana, Pen, Notepad, and Miscellaneous Doodads on my titanium key ring. The latter is variable but currently includes the Civivi Torx tool, a Ruike S22, and a Kizer Siren that doubles as a quick bottle opener. I've dabbled with pocket organizers and that allows for the addition of a small pry tool but that hasn't gone mainstream yet for me.