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English definition of “pit”

pit

noun [C]     /pɪt/
STOCK MARKET the area of a stock exchange used for trading : Many traditional pits have moved their business to electronic trading systems . → Compare the floor
NATURAL RESOURCES a deep area underground from which a natural resource is taken by digging : a coal / clay / gravel pit
(Definition of pit noun from the Cambridge Business English Dictionary © Cambridge University Press)
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