benefit · noun C or U /ˈben.ə.fɪt/Full view
benefit (HELP)
B1 something that helps you or gives you an advantage
Dictionary examples:

The discovery of oil brought many benefits to the town.

One of the many benefits of foreign travel is learning how to cope with the unexpected.

He's had the benefit of an expensive education and yet he continues to work as a waiter.

Learner example:

Taking everything [into] account, the drawbacks far outweigh its benefits. (First Certificate in English; B2; Korean)

benefit (SERVICE)
B1 a helpful service employees receive in addition to their pay
Dictionary examples:

health/medical benefits

The personnel director outlined the employee benefits -- health insurance, retirement plan, etc.

give sb the benefit of the doubt
C2 to choose to believe what someone tells you even though it may be wrong or a lie
Dictionary example:

She says her train was late, so I suppose we'd better give her the benefit of the doubt.

Learner example:

Every time our parents tell us ".. have you thought about it, are you sure you are not making a mistake?" we just answer "sure I have, no problem." Next time they do, let's give them the benefit of the doubt and let's think twice about the subject. (Certificate of Proficiency in English; C2; Spanish)

for sb's/sth's benefit / for the benefit of sb/sth
C2 in order to help someone
Dictionary examples:

We bought the piano for the children's benefit.

She wanted her money to be used for the benefit of poor children.

Learner example:

Needless to say, I hope you take into consideration all [of] this, not only for Gustavo's benefit, but also for the benefit of the astronaut training program and the world. (Certificate of Proficiency in English; C2; Spanish)

benefit · verb I or T /ˈben.ə.fɪt/
benefit
B2 to be helped by something or to help someone
Dictionary examples:

I feel that I have benefited greatly from her experience.

How can we benefit those who most need our help?

Learner example:

I am sure that the café would benefit a great deal from a non-smoking-area. (First Certificate in English; B2; German)

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