The precise item (8,7)
I believe the answer is:
definite article
'the' is the definition.
'precise item' is the wordplay.
'precise' becomes 'definite' ('definite' can be a synonym of 'precise').
'item' becomes 'article' (I've seen this before**).
'definite'+'article'='DEFINITE ARTICLE'
(Other definitions for definite article that I've seen before include "In English, it's always the" , "Black and white feature in paper" , "part of speech" , "Maybe the" .)