Meaning of “possibility” - Learner’s Dictionary

possibility

noun uk us /ˌpɒsəˈbɪləti/
CHANCE [ C, U ]

B1 a chance that something may happen or be true:

a distinct/real possibility
Is there any possibility of changing this ticket?
[ + (that) ] There is a strong possibility that she was lying.
CHOICE [ C ]

B2 something that you can choose to do:

"We could go by car." "Yes, that's a possibility."
Have you considered the possibility of flying?
→ Opposite impossibility (impossible)

(Definition of “possibility” from the Cambridge Learner’s Dictionary © Cambridge University Press)