Meaning & Definition of word "Nominal"

Nominal

/ˈnɒmɪnəl/

1. A word or phrase that serves as a noun.
- Example: In the sentence 'The quick brown fox jumps over the lazy dog,' 'the quick brown fox' is a nominal phrase.

1. Relating to or involving a name or names.
- Example: The nominal value of the shares does not reflect their market price.
2. Existing in name only; not real or actual.
- Example: The nominal leader of the committee had no real power over the decisions made.
3. Insignificantly small; a token amount.
- Example: The fee for processing the application was nominal, just to cover administrative costs.
4. Pertaining to nominal variables in statistics which categorize without a natural order.
- Example: In the survey, gender is treated as a nominal value, distinguishing between male and female respondents.

From Latin 'nominalis' meaning 'of a name'.

nominal fee:

A small amount that is charged for a service, often just to cover administrative costs.

nominal damage:

A token amount awarded in a legal case, acknowledging a wrong that did not cause significant harm.

nominal interest rate:

The stated interest rate on a loan or financial product, not adjusted for inflation.

name:

A word or set of words by which a person or thing is known, addressed, or referred to.

token:

Something that represents or indicates an idea or an amount.

Meaning: Basic or minimal involvement.

Example Sentence: His contribution to the project was quite nominal, just showing up for the meetings.

Meaning: Just for show or appearance.

Example Sentence: The 'manager' title was nominal; he didn't really have any authority.