pos·si·bil·i·ty

[pos-uh-bil-i-tee]
noun, plural pos·si·bil·i·ties for 2.
1.
the state or fact of being possible: the possibility of error.
2.
something possible: He had exhausted every possibility but one.

Origin:
1325–75; Middle English possibilite < Late Latin possibilitās. See possible, -ity


1. chance, prospect, likelihood, odds.
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World English Dictionary
possibility (ˌpɒsɪˈbɪlɪtɪ) [Click for IPA pronunciation guide]
 
n , pl -ties
1.  the state or condition of being possible
2.  anything that is possible
3.  a competitor, candidate, etc, who has a moderately good chance of winning, being chosen, etc
4.  (often plural) a future prospect or potential: my new house has great possibilities

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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00:10
Possibility is always a great word to know.
So is doohickey. Does it mean:
a gadget; dingus; thingumbob.
a calculus or concretion found in the stomach or intestines of certain animals, esp. ruminants, formerly reputed to be an effective remedy for poison.
Example sentences
He simply felt that chance had given him a new possibility to which his sick
  soul might cling.
Some people were overheard discussing the possibility of browned butter facials.
Geneticists have dreamed of such knowledge for decades and have talked about it
  as a real possibility for seven years or so.
Paleontologists had considered the possibility and, eventually, opinions
  changed.
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