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English definition of “steep”

steep

adjective
 
 
/stiːp/
sudden and very big: steep decline/drop/fall With the steep fall in the price of oil, the economy has slowed significantly.steep rise/increase The property market is beginning to decline after years of steep price increases.
very high or higher than is reasonable: steep fee/charge/cost Investors are concerned about the steep cost of the banking bail-out. Co-operatives could soon face steep taxes.
(Definition of steep from the Cambridge Business English Dictionary © Cambridge University Press)
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