The Greek word used here appears only two times in the New Testament, the other being 2 Corinthians 9:10. The term was known outside the Bible to describe the person who sponsored a public event as a choir; both the performers as well as the audience enjoyed the event at the expense of this benefactor. By using this word Peter is indicating that the Lord is the benefactor to every Christian so that he covers all our expenses.
11 whoever speaks, as one who speaks oracles of God; whoever serves, as one who serves by the strength that God supplies in order that in everything God may be glorified through Jesus Christ. To him belong glory and dominion forever and ever. Amen.