Word-formation
Word-formation is the process of creating new words from the material
available in the language according to its structural and semantic formulas and
patterns. For instance, the noun driver is formed after the pattern v+-er, i.e. a
verbal stem + the noun-forming suffix -er. The meaning of the derived noun
driver is related to the meaning of the stem drive- ‘to direct the course of a
vehicle’ and the suffix -er meaning ‘an active agent’: a driver is ‘one who drives’
(a carriage, motorcar, railway engine, etc.).
Word-formation is a morphological naming because it uses morphemes
existing in the language.
There are two types of word-formation:
word-derivation
and
word-composition (or compounding).
Words created by word-derivation have only one derivative base and one
derivative affix, e.g. cleanness (from clean) etc.
Words created by word-composition have at least two bases, e.g. lampshade, ice-cold, looking-glass, daydream, hotbed, speedometer, etc.
Apart from these major types of word-formation there are some minor types:
 clipping (initial – [tele]phone; final – exam[ination]; initial-final [re]fridge[rator]
 abbreviation (letter abbriviations are pronounced in the alphabetic
form – the UK; acronyms – are pronounced as if it were a word UNESCO)
 substantivation (a final exam – a final, finals)
 blending (smoke+fog=smog)
 backformation (a beggar – to beg)
 sound interchange (to sing – song, to live – life)