Definitions

1. adjective

being the least amount or degree possible, especially in amount of money or cost

“The company was making a nominal profit due to its low overhead costs.”

2. noun

a name or title given to something, especially a person or a thing in a particular context

“The Nobel Prize is a prestigious nominal award for outstanding contributions to science and literature.”

3. noun

the standard or face value of a currency or commodity, especially when expressed in a particular unit, such as dollars or ounces

“The nominal value of the dollar has been steadily decreasing over the past few years.”