Definitions
noun
payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
noun
a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.
“they encouraged customers with a premium for loyal patronage”
adjective
having or reflecting superior quality or value
“premium gasoline at a premium price”
noun
the amount that something in scarce supply is valued above its nominal value
“they paid a premium for access to water”
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