peg
UK[pɛɡ]US[pɛɡ]
n
a short, thin piece of wood, metal, or plastic, often tapered at one end, used to hold things together, to hang things on, or to mark a position
n
a fixed level or limit, especially an official one for the price of something or the exchange rate of a currency
v
to fix or hold something at a particular level, amount, or rate
v
to fasten something with a peg
Etymology
The word 'peg' has a straightforward history, originating from the late Middle English period, likely from a Low German source such as 'pigge'. Its core concept has always been a pin or bolt used for fastening or hanging. The term's semantic journey is one of concrete utility, with its meaning remaining closely tied to its original function. The financial and figurative senses, such as fixing a price or rate, are metaphorical extensions from the physical act of securing something in place with a peg.
Analysis
The word 'peg' is a simplex word of Germanic origin. It functions as a single, unanalyzable morpheme in modern English.
Examples
She hung her coat on the wooden peg by the door.
The government decided to peg the currency to the US dollar.
He used a tent peg to secure the guy rope.