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WORD FORMATION:
Word formation is the branch of Lexicology which studies the derivative structure of the words and the structural and semantic formulas and patterns after which the new words are created in a language.
Productive ways of forming words are such types of word-formation which are frequently used to create new words.
Those types of word-formation which cannot or seldom produce new words are commonly termed non-productive or unproductive.
Productivity of word-building ways is their ability of making new words (neologisms) which all who speak English find no difficulty in understanding.
Neologism is a word that is formed according to productive word formation pattern or borrowed from another language in recent times and felt as new. Terms ‘occasionalism’ , ‘nonce-word’ and ‘ad hoc word’ are used to describe words made for special occasion and not necessarily entering the dictionary
Affixation is generally defined as the formation of words by adding derivational affixes to different types of bases. Affixation is subdivided into suffixation and prefixation.
Prefixation is the formation of words with the help of prefixes.
Suffixation is the formation of words with the help of suffixes.
In terms of productivity distinction is usually made between dead and living affixes. Dead affixes are described as those which are no longer felt in Modern English as component parts of words (as in health, admit, etc). Living affixes may be easily singled out from a word, e.g. the noun-forming suffixes -ness, -dom, -hood, -age, -ance, as in darkness, freedom, childhood, marriage, assistance, etc. or the adjective-forming suffixes -en, -ous, -ive, -ful, -y as in wooden, poisonous, active, hopeful, stony, etc.
Compounding or word-composition is one of the productive types of word-formation in Modern English which creates new words by means of joining two derivational bases (stems). Compounds may be subordinative (second element is semantic nucleus) or coordinative (both components semantically relevant). Reduplicative compounds are based on onomatopoeic repetition: hush-hush, blah-blah.
Conversion is a highly productive way of word-formation by means of transferring one part of speech to another by changing its paradigm, but without altering its initial form (neither phonetic nor graphical changes within the paradigm), e.g. cf. my work— I work; (the) dog’s bark — he dogs his girlfriend, etc.
Shortening is the process of word-formation by means of dropping some part of the words. It includes abbreviation and clipping.