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The word 'loss' usually refers to when you no longer have something you used to have. For example, if you lose your phone or your keys, you no longer have them and so you experience a loss. The word can also be used in more serious situations such as when someone passes away, which is often referred to as a loss. You can also use the word 'loss' in the context of a sporting event or competition, when a team or individual doesn't win. Overall, the word 'loss' is used to describe something that is no longer in your possession, or when you don't achieve something you were hoping for.