What does nominal price mean?

nominal price meaning in Law Dictionary

the buying price of something that will be believed, and it has no correlation into the selling price. The sole reason for the moderate price is to initiate a trade. It is used when the product is new and contains an unestablished selling price or when there is an uncertainty in the market due to the scarcity associated with product.

nominal price meaning in Business Dictionary

Estimated price of an item that could keep little if any relation to its selling price, and which can be quoted to begin a negotiation or exchange. Nominal pricing is utilized where either the current selling price has not been established (that is new), or where demand and provide scenario helps make the market-price uncertain (that is scarce).

Sentence Examples with the word nominal price

In September 1729 he bought at a merely nominal price The Pennsylvania Gazette, a weekly newspaper which Keimer had started nine months before to defeat a similar project of Franklin's, and which Franklin conducted until 1765.

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