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I have heard the word spoken on occasion, but I am not sure if it can be used
in both situations. Thank you.
CC BY-SA 3.0
2017-03-17T12:10:30.793
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2017-03-18T04:43:59.837
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question
word-choice
Can 大変mean amazing and awful?
It can mean both awful and very very

これは大変だ。(This is terrible)

大変[助]{たす}かりました。(You helped me very much!)
CC BY-SA 3.0
2017-03-17T12:13:16.707
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2017-03-18T04:43:59.837
2017-03-18T04:43:59.837
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answer
Adding to paullb's answer, if you don't use 大変 as an adverb or adjective
modifying another word, it usually means awful or terrible.
CC BY-SA 3.0
2017-03-17T17:23:20.883
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2017-03-17T17:23:20.883
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answer