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To halt one's work or other activity.
"I think I'll knock off for the evening and go to bed."
To kill.
"The mobsters hired the guy to knock off their enemies."
To remove, as a discount or estimate.
"They agreed to knock off 20% of the price."
To rob.
"They decided to knock off a liquor store downtown."
An imitation of something, particularly a well-known product, usually lower in quality and price than the original.
"It's not a name-brand bag; it's just a cheap knockoff."
A device in a knitting machine to remove loops from the needles.