Having the quality of effervescing; tending to bubble, fizz, or display liveliness.
From Latin effervescere + -ive (adjective suffix meaning 'having the quality of'). The -ive suffix creates adjectives that describe characteristic qualities or tendencies.
Words ending in -ive like 'effervescive' and 'active' describe ongoing tendencies—so 'effervescive' means something has a bubbling quality as part of its nature!
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