What does "make the most of it" mean?

English as a Second Language English Vocabulary, Grammar and Idioms
1

Please help me with the meaning of the phrase? Does it mean to make the best use of it?

By the way, could anyone explain the followings to me please?

1- make use of something
2- make better use of something
3- make the best use of something

Thanks a milion,

Anna

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2

Yes, if you make the most out of something, you do the best you can with what you’re given.

1 - to utilize something that you have
2 - to utilize something that you have in a more efficient manner
3 - to utilize something that you have in the most efficient way

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3

So could I ask if “make the best of it” has the same meaning with “make the most of it”, please?

So sorry I am not so attentive as this was posted long ago.

Thanks

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