Definition, Meaning & Synonyms
nominal-amount
noun
/ˈnɒm.ɪ.nəl əˈmaʊnt/
Definition
A nominal amount refers to a small, often symbolic sum of money that is not meant to reflect the true value or cost of something.
Examples
- The ticket for the seminar only required a nominal amount of $10.
- Many charities ask for a nominal amount to process donations.
- Despite being a nominal amount, it shows our commitment to the cause.
Meaning
In finance and economics, a nominal amount typically represents a face value or a stated value that is not adjusted for inflation or other factors that would affect its real value.
Synonyms
- symbolic amount
- trivial amount
- insignificant amount
