Lose, pronounced /luz/ is a verb.
Lose has three possible meanings:
The past tense of lose is lost.
Example of lose meaning to "misplace" something
Example of lose meaning to "fail to win"
Example of lose meaning to "be deprived of"
Loose, pronounced like goose and moose, is an adjective.
Loose has two possible meanings:
Example of loose meaning "not fastened"
Example of loose meaning "not tight fitting"
Now try Exercise #1 on lose / loose.