Real versus nominal value

The distinction between real value and nominal value occurs in many fields. From a philosophical viewpoint, nominal value represents an accepted condition, which is a goal or an approximation, as opposed to the real value, which is always present. The distinction between real value and nominal value occurs in many fields. From a philosophical viewpoint, nominal value represents an accepted condition, which is a goal or an approximation, as opposed to the real value, which is always present. In manufacturing, a nominal size or trade size is a size 'in name only' used for identification. The nominal size may not match any dimension of the product, but within the domain of that product the nominal size may correspond to a large number of highly standardized dimensions and tolerances.