different between economy vs premium

English

Alternative forms

• oeconomy, œconomy (archaic)

Etymology

Borrowed from Latin oeconomia, from Ancient Greek ????????? (oikonomía, “management of a household, administration”), from ????? (oîkos, “house”) + ???? (ném?, “distribute, allocate”) (surface analysis eco- +? -nomy). The first recorded sense of the word economy, found in a work possibly composed in 1440, is “the management of economic affairs”, in this case, of a monastery.

Pronunciation

• (Received Pronunciation) IPA^(key): /i??k?n.?.mi/
• (General American) enPR: ?k?n??m?, ?k?n??m? IPA^(key): /i??k?n.?.mi/, /??k?n.?.mi/, /??k?n.?.mi/
• Rhymes: -?n?mi

Noun

economy (countable and uncountable, plural economies)

1. Effective management of a community or system, or especially its resources.
   1. (obsolete) The regular operation of nature in the generation, nutrition and preservation of animals or plants.

      animal economy, vegetable economy

   2. (obsolete) System of management; general regulation and disposition of the affairs of a state or nation, or of any department of government.
   3. (obsolete) A system of rules, regulations, rites and ceremonies.

      the Jewish economy

   4. (obsolete) The disposition or arrangement of any work.

      the economy of a poem

2. The study of money, currency and trade, and the efficient use of resources.
3. Frugal use of resources.

   economy of word

   • April 5, 1729, Jonathan Swift, letter to St. John

     I have no other notion of economy than that it is the parent to liberty and ease.

4. The system of production and distribution and consumption. The overall measure of a currency system; as the national economy.
5. (theology) The method of divine government of the world. (See w:Economy (religion).)
6. (US) The part of a commercial passenger airplane or train reserved for those paying the lower standard fares; economy class.
7. (archaic) Management of one’s residency.

Derived terms

Related terms

• economics
  • macroeconomics
  • microeconomics

Translations

Adjective

economy (not comparable)

1. Cheap to run; using minimal resources; representing good value for money.

   He bought an economy car.

   Economy size.

Adverb

economy (not comparable)

1. (US) In or via the part of a commercial passenger airplane reserved for those paying the lower standard fares.

   Numerous web sites have tips on how to fly economy.

Translations

Anagrams

• monoecy

English

Alternative forms

• præmium (archaic)

Etymology

From Latin praemium (“prize”).

Pronunciation

• (General American) IPA^(key): /?p?imi?m/

Adjective

premium (not comparable)

1. Superior in quality; higher in price or value.
2. (automotive) High-end; belonging to the market segment between mid-market and luxury.

   Coordinate terms: economy, luxury

Translations

Noun

premium (plural premiums or premia)

1. A prize or award.
2. Something offered at a reduced price as an inducement to buy something else.
3. A bonus paid in addition to normal payments.
4. (insurance) The amount to be paid for an insurance policy.
5. An unusually high value.
6. (finance) The amount by which a security's value exceeds its face value.

Translations

Usage notes

• Premia is much less common than premiums, accounting for less than 1% of total usage in US (COCA) and in UK (BNC).

Antonyms

• (finance): discount

Derived terms

Further reading

• Premium on Wikipedia.Wikipedia
• Premium in the Encyclopædia Britannica (11th edition, 1911)

French

Noun

premium m (plural premiums)

1. premium

Indonesian

Etymology

Learned borrowing from Latin praemium (“prize”). Doublet of premi.

Pronunciation

• IPA^(key): [pre?mi?m]
• Hyphenation: pré?mi?um

Noun

premium or prémium

1. premium:

   Synonym: premi

   1. A prize, a reward.

      Synonym: hadiah

   2. A premium, money paid for e.g. an insurance.
2. Something superior in quality; higher in price or value.
   1. (colloquial) Pertamina petrol or gasoline product with octane rating of 88.

Further reading

• “premium” in Kamus Besar Bahasa Indonesia (KBBI) Daring, Jakarta: Badan Pengembangan dan Pembinaan Bahasa, Kementerian Pendidikan dan Kebudayaan Republik Indonesia, 2016.

Spanish

Adjective

premium (invariable)

1. premium