nominal price
Definition
Estimated price of an item that may bear little or no relation to its market price, and which is quoted to initiate a negotiation or transaction. Nominal price is used where either the recent market price has not been established (the item is new), or where demand and supply situation makes the market-price uncertain (the item is scarce).
email to a friend
print this definition
cite this definition
link to this page
nominal price is in the Economics, Politics, & Society and Purchasing & Procurement subjects.
nominal price appears in the definition of the following term: conditional sales lease
This content can be found on the following page:
http://www.businessdictionary.com/definition/nominal-price.html