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English definition of “nominal”

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nominal

adjective
 
 
/ˈnɒmɪnəl/
very small, or smaller than the usual amount: The hotel developers will lease the land for a nominal fee . We pay our volunteers a nominal amount. The costs incurred to activate the new service would be nominal.
used to describe something that is said to be a particular thing, but is not actually that thing: Although he has retired, the company is still under his nominal control. He regarded this responsibility as purely nominal.
ECONOMICS a nominal amount relates to prices or rates that are correct at the present time but do not show the effect of inflation: Merchandise imports have expanded significantly faster than world trade in both real and nominal dollar values.
(Definition of nominal from the Cambridge Business English Dictionary © Cambridge University Press)
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