- The definition of nominal is something that has almost no value or something that exists in name only.
An example of nominal is when a person in a court case is minimal damages of only $1 because he was wronged but didn't actually suffer any harm.
nominal definition by Webster's New World
- of, consisting of, having the nature of, or giving a name or names
- of or having to do with a noun or nouns
- in name only, not in fact: the nominal leader
- very small compared to usual expectations; slight: a nominal fee
Origin: Middle English nominalle ; from Classical Latin nominalis, of a name ; from nomen, name
nominal definition by American Heritage Dictionary
- a. Of, resembling, relating to, or consisting of a name or names.b. Assigned to or bearing a person's name: nominal shares.
- Existing in name only.
- Philosophy Of or relating to nominalism.
- Insignificantly small; trifling: a nominal sum.
- Business a. Of, relating to, or being the amount or face value of a sum of money or a stock certificate, for example, and not the purchasing power or market value.b. Of, relating to, or being the rate of interest or return without adjustment for compounding or inflation.
- Grammar Of or relating to a noun or word group that functions as a noun.
- Aerospace & Engineering According to plan or design: a nominal flight check.
Origin: Middle English nominalle, of nouns, from Latin nōminālis, of names, from nōmen, nōmin-, name; see nō̆-men- in Indo-European roots.
- nomˈi·nal·ly adverb
nominal - Computer Definition
In name only, but not in reality. A T1 circuit sometimes is described as having a nominal transmission rate of 1.5 Mbps, although in reality the signaling rate is 1.544 Mbps and its payload is 1.536 Mbps. It is easier to say one point five Megabits per second or one and a half Megabits per second than one point five four four Megabits per second. It is not exact, but it is close enough for all but the most obnoxious purists. Similarly, an E-1 is generally described as having a transmission rate of 2 Mbps, although in reality the signaling rate is 2.048 Mbps and the payload is 1.92 Mbps. See also payload, signaling rate, and transmission rate.
nominal - Investment & Finance Definition
A number that hasn’t been adjusted. For example, a sales number that hasn’t been adjusted for price changes is a nominal sales number. A nominal interest rate is the interest rate that is actually paid, as opposed to the amount that is owed. If a consumer pays 8 percent on a car loan, the nominal interest rate is 8 percent. Nominal income means income that hasn’t been adjusted for any changes in the dollar’s purchasing power. Nominal dollar means money that hasn’t been adjusted for inflation.