noun Informal.
initiative; aggressiveness; resourcefulness: With his gumption he'll make a success of himself.
courage; spunk; guts: It takes gumption to quit a high-paying job.
common sense; shrewdness.

1710–20; orig. Scots

gumptionless, adjective
gumptious, adjective Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
gumption (ˈɡʌmpʃən)
1.  (Brit) common sense or resourcefulness
2.  initiative or courage: you haven't the gumption to try
[C18: originally Scottish, of unknown origin]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1719, Scottish, "common sense, shrewdness," also "drive, initiative," possibly connected with M.E. gome "attention, heed," from O.N. gaumr "heed." Originally "common sense, shrewdness," sense of "initiative" is first recorded 1812.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Governments have not the gumption to constrain civil service costs.
In old Hollywood, they called it gumption or moxie.
He wished there was some way he could inject a shot of spirit and gumption into
  his father.
He has more gumption.
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