Source : Webster's Revised Unabridged Dictionary (1913)

Allocation \Al`lo*ca"tion\, n. [LL. allocatio: cf. F.
   allocation.]
   1. The act of putting one thing to another; a placing;
      disposition; arrangement. --Hallam.

   2. An allotment or apportionment; as, an allocation of shares
      in a company.

            The allocation of the particular portions of
            Palestine to its successive inhabitants. --A. R.
                                                  Stanley.

   3. The admission of an item in an account, or an allowance
      made upon an account; -- a term used in the English
      exchequer.

Source : WordNet®

allocation
     n 1: a share set aside for a specific purpose [syn: {allotment}]
     2: the act of distributing by allotting or apportioning;
        distribution according to a plan; "the apportionment of
        seats in the House of Representatives is based on the
        relative population of each state" [syn: {allotment}, {apportionment},
         {apportioning}, {parceling}, {parcelling}, {assignation}]
     3: (computer science) the assignment of particular areas of a
        magnetic disk to particular data or instructions