Merriam-Webster Collegiate Dictionary - shave

 I. verb  (~d; ~d or ~n; shaving)  Etymology: Middle English, from Old English scafan; akin to Lithuanian skobti to pluck, Latin scabere to scratch, and perhaps to Greek koptein to cut — more at capon  Date: before 12th century  transitive verb  1.  a. to remove a thin layer from  b. to cut off in thin layers or shreds ; slice  c. to cut off closely  2.  a. to sever the hair from (the head or another part of the body) close to the roots  b. to cut off (hair or beard) close to the skin  3.  a. to discount (a note) at an exorbitant rate  b. deduct, reduce  c. to conspire to score fewer (points) than one is capable of (as to affect gambling outcomes)  4. to come close to or touch lightly in passing  intransitive verb  1. to cut off hair or beard close to the skin  2. to proceed with difficulty ; scrape  II. noun  Date: before 12th century  1. ~r 3  2. a thin slice ; shaving  3. an act or the process of shaving