Chip time
the failure and embarr-ssment of a student after getting a question wrong in a lesson, particulary in a-level economics. the meaning also indicates that the student is not welcome in the cl-ss due to his or her failure and must therefore buy some chips in a nearby cafe or canteen after leaving.
teacher: where is revenue maximised?
student1: i don’t know…
teacher:(sigh)
chris: chip time mate. time for you to receive your failure
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