This proverb means that it's better to receive a small or partial benefit than to get nothing at all. It encourages acceptance and appreciation for what one has, even if it's not as much as desired.
The proverb is rooted in English and has been in use since at least the 16th century. One of its earliest recorded instances is in the 1546 book "A Dialogue Conteinyng the Nomber in Effect of All the Prouerbes in the Englishe Tongue" by John Heywood, where it is written as "... better is halfe a lofe than no bread".
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