The term time dilation refers to which effect?

Is the apparent loss of time of a moving clock as observed by a stationary observer. Thats what i think.

In the theory of relativity, time dilation is a difference of elapsed time between two events as measured by observers either moving relative to each other or differently situated from a gravitational mass or masses.

Awoodchuck would chuck all the wood he could chuck if a woodchuck could chuck wood.