compensation

Definitions

General English

Accounting

Aviation

  • noun money paid to an individual or organisation to replace or make up for physical or financial loss

Construction

  • The amount paid for goods, labor, or services provided.
  • An amount paid to settle a claim for damages.

Economics

  • The GATT principle that members who violate GATT rules must compensate other countries by lowering tariffs or making other concessions, or be subject to retaliation.
  • The actual or potential payment by the winners from a change in trade or other policy to the losers, intended to undo the harm to the latter. Actual compensation is rare, but the potential for compensation is used as the basis for most evaluations of the gains from trade.

Electronics

  • The offsetting, counterbalancing, neutralizing, or stabilizing of a component, circuit, device, piece of equipment, or system. Compensation may be used, for instance, to make up for system deficiencies, environmental complications, or for adjusting equipment to meet specific needs.

Law

  • noun payment made by someone to cover the cost of damage or hardship which he or she has caused
  • noun a payment made to someone for work which has been done

Medical

  • noun something which makes something else seem less bad or less serious
  • noun an amount of money or something else given to pay for loss or damage
  • noun the act of giving money to pay for loss or damage
  • noun a situation where the body helps to correct a problem in a particular organ by making another organ, or the undamaged parts of the same organ, function at a higher level
  • noun behaviour that emphasises a particular ability or personality characteristic in order to make the lack of another one seem less bad
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