Source : Webster's Revised Unabridged Dictionary (1913)

Waste \Waste\, a. [OE. wast, OF. wast, from L. vastus,
   influenced by the kindred German word; cf. OHG. wuosti, G.
   w["u]st, OS. w?sti, D. woest, AS. w[=e]ste. Cf. {Vast}.]
   1. Desolate; devastated; stripped; bare; hence, dreary;
      dismal; gloomy; cheerless.

            The dismal situation waste and wild.  --Milton.

            His heart became appalled as he gazed forward into
            the waste darkness of futurity.       --Sir W.
                                                  Scott.

   2. Lying unused; unproductive; worthless; valueless; refuse;
      rejected; as, waste land; waste paper.

            But his waste words returned to him in vain.
                                                  --Spenser.

            Not a waste or needless sound, Till we come to
            holier ground.                        --Milton.

            Ill day which made this beauty waste. --Emerson.

   3. Lost for want of occupiers or use; superfluous.

            And strangled with her waste fertility. --Milton.

   {Waste gate}, a gate by which the superfluous water of a
      reservoir, or the like, is discharged.

   {Waste paper}. See under {Paper}.

   {Waste pipe}, a pipe for carrying off waste, or superfluous,
      water or other fluids. Specifically:
      (a) (Steam Boilers) An escape pipe. See under {Escape}.
      (b) (Plumbing) The outlet pipe at the bottom of a bowl,
          tub, sink, or the like.

   {Waste steam}.
      (a) Steam which escapes the air.
      (b) Exhaust steam.

   {Waste trap}, a trap for a waste pipe, as of a sink.



   Note: Paper is often used adjectively or in combination,
         having commonly an obvious signification; as, paper
         cutter or paper-cutter; paper knife, paper-knife, or
         paperknife; paper maker, paper-maker, or papermaker;
         paper mill or paper-mill; paper weight, paper-weight,
         or paperweight, etc.

   {Business paper}, checks, notes, drafts, etc., given in
      payment of actual indebtedness; -- opposed to
      accommodation paper.

   {Fly paper}, paper covered with a sticky preparation, -- used
      for catching flies.

   {Laid paper}. See under {Laid}.

   {Paper birch} (Bot.), the canoe birch tree ({Betula
      papyracea}).

   {Paper blockade}, an ineffective blockade, as by a weak naval
      force.

   {Paper boat} (Naut.), a boat made of water-proof paper.

   {Paper car wheel} (Railroad), a car wheel having a steel
      tire, and a center formed of compressed paper held between
      two plate-iron disks. --Forney.

   {Paper credit}, credit founded upon evidences of debt, such
      as promissory notes, duebills, etc.

   {Paper hanger}, one who covers walls with paper hangings.

   {Paper hangings}, paper printed with colored figures, or
      otherwise made ornamental, prepared to be pasted against
      the walls of apartments, etc.; wall paper.

   {Paper house}, an audience composed of people who have come
      in on free passes. [Cant]

   {Paper money}, notes or bills, usually issued by government
      or by a banking corporation, promising payment of money,
      and circulated as the representative of coin.

   {Paper mulberry}. (Bot.) See under Mulberry.

   {Paper muslin}, glazed muslin, used for linings, etc.

   {Paper nautilus}. (Zo["o]l.) See {Argonauta}.

   {Paper reed} (Bot.), the papyrus.

   {Paper sailor}. (Zo["o]l.) See Argonauta.

   {Paper stainer}, one who colors or stamps wall paper. --De
      Colange.

   {Paper wasp} (Zo["o]l.), any wasp which makes a nest of
      paperlike material, as the yellow jacket.

   {Paper weight}, any object used as a weight to prevent loose
      papers from being displaced by wind, or otherwise.

   {Parchment paper}. See {Papyrine}.

   {Tissue paper}, thin, gauzelike paper, such as is used to
      protect engravings in books.

   {Wall paper}. Same as {Paper hangings}, above.

   {Waste paper}, paper thrown aside as worthless or useless,
      except for uses of little account.

   {Wove paper}, a writing paper with a uniform surface, not
      ribbed or watermarked.

Source : WordNet®

waste paper
     n : paper discarded after use