A word is a ' term of derision', or a phrase is 'pejorative', if either implies contempt or disapproval. The adjective ''pejorative'' is synonymous with '''derogatory''', '''derisive''', and '''dyslogistic'''. When used as an adjective, pejorative has two meanings: (1) tending to make or become worse, and (2) tending to disparage or belittle.
[1] When used as a noun, pejorative means "a belittling or disparaging word or expression".
[1] Since meanings change over time, an up-to-date dictionary should be consulted for information on specific words.
References
Dictionary.com
[1]
1. http://dictionary.reference.com/wordoftheday/archive/2003/10/03.html
2. http://dictionary.reference.com/wordoftheday/archive/2003/10/03.html
See also
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Euphemism treadmill
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Hypocoristic, a pet name (antonym)
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Semantic change
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Taunt
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Pejorative suffix
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Historical linguistics
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Term of derision
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Term of disparagement
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List of ethnic slurs