denotation
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If you mean the common sense by what everyone has, then yes, it is common because everyone has it. Not that they always use it.
The most basic meaning would be... if something you did was the smart thing to do. An example would be jumping out of an airplane without a parachute.
Common Sense, written by Thomas Paine, was published in 1776.
Common Sense helped convince many Americans that a complete break with Britain was necessary
Common Sense