I checked out its meaning on the web and the common one I have found is "speaking imprecisely", but instinctively I thought it would be like "almost", for example:
The task assigned is more or less over, only formatting is left to be done.
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I would say it translates to roughly, around, or about a little better than almost. (When used for numerical estimates, roughly implies the number could be off by a little bit in either direction; while almost sometimes implies that, if the number is off, it's probably too low, rather than too high.)
Another relatively common way to say it is give or take:
I ran about 7 kilometers yesterday, give or take.
Yes. According to Thesaurus.com, which says that the definition is "approximately".
about, almost, around, ballpark figure, bordering on, circa, close to, in the ballpark, in the neighborhood of, in the vicinity of, just about, not far from, not quite, on average, relatively, roughly, thereabouts, very close
More or Less :)
They both refer to an approximation, but "almost" would serve better when something was not quite meeting a criterion (I almost made the bus, but had to walk home instead), while "more or less" serves better when something meets a criterion well enough that we can consider it to have done so (After trick-and-treating, we shared the sweets more or less equally).