premium

/ˈpriːmiəm/ noun

Definition

PAYMENT [C] › an amount of money you pay for insurance (= payments for an accident or illness) : How much is the monthly premium?

HIGH RATE [C] › an amount or rate that is higher than average: You pay a premium for apartments in the city centre.

be at a premium › If something useful is at a premium, there is not enough of it: Time is at a premium just before the start of exams.

place/put a premium on sth › to consider a quality or achievement as very important: She puts a premium on honesty.

(Definition of premium noun from the Cambridge Learner's Dictionary © Cambridge University Press)

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