Notional

Adjective: Relating to or based on a concept or notion rather than a practical or tangible existence. The term is often used in contexts where ideas or hypothetical situations are discussed, emphasizing theoretical aspects rather than concrete realities. For example, a notional value may be used in finance to represent an estimated worth rather than an actual market price.

Notional meaning with examples

• The notional value of the assets in the portfolio suggests a much larger potential profit than what was actually realized, indicating a significant gap between expectation and reality in financial forecasting.
• In discussions about climate change, scientists often refer to notional models to predict future scenarios, which, while based on current data, are inherently theoretical and subject to change.
• The teacher explained that the notional understanding of democracy involves ideals such as equality and freedom, which can sometimes differ from real-world applications of those principles in various societies.
• When calculating taxes, the notional income for the year can be misleading if it includes bonuses that are not guaranteed, leading individuals to overestimate their true financial situation.
• In literature, the author's notional use of a character's journey often serves as a metaphor for broader social issues, reflecting the complexities of human experience rather than a literal story.