| / English Dictionary |
PREMIUM
| Pronunciation (US): |  | (GB): | |
I. (noun)
Sense 1
Meaning:
Payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
Synonyms:
bounty; premium
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("premium" is a kind of...):
reward (payment made in return for a service rendered)
Domain category:
administration; governance; governing; government; government activity (the act of governing; exercising authority)
Sense 2
Meaning:
A prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.
Example:
they encouraged customers with a premium for loyal patronage
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("premium" is a kind of...):
award; prize (something given for victory or superiority in a contest or competition or for winning a lottery)
bonus; incentive (an additional payment (or other remuneration) to employees as a means of increasing output)
Sense 3
Meaning:
Payment for insurance
Synonyms:
insurance premium; premium
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("premium" is a kind of...):
payment (a sum of money paid or a claim discharged)
Sense 4
Meaning:
A fee charged for exchanging currencies
Synonyms:
agio; agiotage; exchange premium; premium
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("premium" is a kind of...):
charge (the price charged for some article or service)
Sense 5
Meaning:
The amount that something in scarce supply is valued above its nominal value
Example:
they paid a premium for access to water
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("premium" is a kind of...):
economic value; value (the amount (of money or goods or services) that is considered to be a fair equivalent for something else)
II. (adjective)
Sense 1
Meaning:
Having or reflecting superior quality or value
Example:
premium gasoline at a premium price
Classified under:
Similar:
superior (of high or superior quality or performance)
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