From The Collaborative International Dictionary of English v.0.48 [gcide]:
1. The attribute of being so much, and not more or less; the property of being measurable, or capable of increase and decrease, multiplication and division; greatness; and more concretely, that which answers the question "How much?"; measure in regard to bulk or amount; determinate or comparative dimensions; measure; amount; bulk; extent; size. Hence, in specific uses: (a) (Logic) The extent or extension of a general conception, that is, the number of species or individuals to which it may be applied; also, its content or comprehension, that is, the number of its constituent qualities, attributes, or relations. (b) (Gram.) The measure of a syllable; that which determines the time in which it is pronounced; as, the long or short quantity of a vowel or syllable. (c) (Mus.) The relative duration of a tone.
Note: Quantity is discrete when it is applied to separate objects, as in number; continuous, when the parts are connected, either in succession, as in time, motion, etc., or in extension, as by the dimensions of space, viz., length, breadth, and thickness.
3. A determinate or estimated amount; a sum or bulk; a certain portion or part; sometimes, a considerable amount; a large portion, bulk, or sum; as, a medicine taken in quantities, that is, in large quantities.
From WordNet (r) 3.0 (2006) [wn]:
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