This is the 2017th most frequent Spanish word.
justo
Fair, just, exact.
In this sentence, 'justo' is used as an adjective meaning fair or equitable, describing the action of acknowledging efforts.
Es justo reconocer el esfuerzo de todos.
It is fair to acknowledge everyone's effort.
Here, 'justo' functions as an adverb to indicate the precise timing of the arrival.
Llegamos justo a tiempo para la reunión.
We arrived just in time for the meeting.
In this context, 'justo' is used as an adjective, meaning tight or snug, describing the fit of the pants.