What is Nominal?

Nominal definition and meaning on Dictionary terms:
being such in name only; so-called; putative: a nominal treaty; the nominal head of the country.
(of a price, consideration, etc.) named as a mere matter of form, being trifling in comparison with the actual value; minimal.
of, relating to, or constituting a name or names.
Grammar. of, relating to, or producing a noun or nouns: a nominal suffix. functioning as or like a noun.

assigned to a person by name: nominal shares of stock.

containing, bearing, or giving a name or names.
(of money, income, or the like) measured in an amount rather than in real value: Nominal wages have risen 50 percent, but real wages are down because of inflation.
Aerospace. performing or achieved within expected, acceptable limits; normal and satisfactory: The mission was nominal throughout.
Slang. done smoothly as expected: The space shot was nominal, proceeding without a hitch.

Grammar. a word or group of words functioning as a noun.