al·lo·cate

[al-uh-keyt]
verb (used with object), al·lo·cat·ed, al·lo·cat·ing.
1.
to set apart for a particular purpose; assign or allot: to allocate funds for new projects.
2.
to fix the place of; locate.

Origin:
1630–40; < Medieval Latin allocātus (past participle of allocāre), equivalent to al- al- + loc(us) place + -ātus -ate1

al·lo·ca·tor, noun
de·al·lo·cate, verb (used with object), de·al·lo·cat·ed, de·al·lo·cat·ing.
re·al·lo·cate, verb (used with object), re·al·lo·cat·ed, re·al·lo·cat·ing.
un·al·lo·cat·ed, adjective


1. See assign.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2013.
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Allocate is an SAT word you need to know.
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to refrain from claiming or insisting on; give up; forgo:
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World English Dictionary
allocate (ˈæləˌkeɪt) [Click for IPA pronunciation guide]
 
vb
1.  to assign or allot for a particular purpose
2.  a less common word for locate
 
[C17: from Medieval Latin allocāre, from Latin locāre to place, from locus a place]
 
'allocatable
 
adj

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Etymonline
Word Origin & History

allocate
1630s, from adj. (mid-15c.), from M.L. allocate (the common first word of writs authorizing payment), imperative plural of allocare "allocate," from L. ad- "to" + locare "to place" (see locate).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
That's a much more prudent way to allocate the stock portion of your retirement
  fund.
Those posting comments here seem to think that government can allocate
  resources more efficiently than the market can.
Audits are vital to investors, who need trustworthy accounts if they are to
  allocate capital efficiently.
If society wishes to allocate more resources towards educating problem students
  than typical students, it may make that decision.
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