Sacrifice was borrowed from Old French, ultimately combining two parts the Sacri which means to set apart as sacred, and facere to make. So a sacrifice means to set apart something in order to make it dedicated to a Deity. Abraham sacrificed his son, in order to set apart a nation for God.
To give anything less than your best is to sacrifice the gift.
Sacrifice was a word that hit its most popular use in the period right before the Civil War. Sacrifice was the highest form of works for a citizen to do. The word was often used in conjunction with the Christian Church, and especially concerning Jesus Christ mighty work.