---
entity_slug: nominal_price
evaluator: null
evaluated_at: '2026-02-23T06:02:27.687521'
overall_score: 4.2
scores:
- name: definition_precision
  value: 4.0
  max_value: 5.0
  rationale: The definition clearly distinguishes nominal price from real value/purchasing
    power, capturing the key concept that money prices can fluctuate independently
    of underlying value. The definition is precise and non-circular, though it could
    be slightly more specific about what drives these independent fluctuations.
- name: source_grounding
  value: 5.0
  max_value: 5.0
  rationale: This concept is thoroughly grounded in Smith's text, particularly in
    his analysis of bounties in Book IV, Chapter 5, where he explicitly distinguishes
    between nominal and real prices. Smith uses this distinction as a central analytical
    tool throughout his discussion of how bounties affect different types of prices.
- name: domain_placement
  value: 5.0
  max_value: 5.0
  rationale: The "Exchange" domain is perfectly appropriate since nominal price is
    fundamentally about how commodities are valued and traded in monetary terms. This
    concept sits at the heart of exchange relationships and price formation mechanisms.
- name: vsm_relevance
  value: 3.0
  max_value: 5.0
  rationale: Nominal price has moderate VSM relevance, primarily relating to S4 (intelligence)
    as it represents information about market conditions and environmental signals.
    However, it's somewhat abstract as a pure measurement concept rather than an active
    system component.
- name: explanatory_value
  value: 4.0
  max_value: 5.0
  rationale: This entity provides significant explanatory power by enabling analysis
    of how monetary policy, currency fluctuations, and market interventions (like
    bounties) can create divergences between apparent and real value. It illuminates
    important mechanisms in Smith's critique of mercantile policies.
---

# Evaluation: Nominal Price

## definition_precision — 4.0 / 5.0

The definition clearly distinguishes nominal price from real value/purchasing power, capturing the key concept that money prices can fluctuate independently of underlying value. The definition is precise and non-circular, though it could be slightly more specific about what drives these independent fluctuations.

## source_grounding — 5.0 / 5.0

This concept is thoroughly grounded in Smith's text, particularly in his analysis of bounties in Book IV, Chapter 5, where he explicitly distinguishes between nominal and real prices. Smith uses this distinction as a central analytical tool throughout his discussion of how bounties affect different types of prices.

## domain_placement — 5.0 / 5.0

The "Exchange" domain is perfectly appropriate since nominal price is fundamentally about how commodities are valued and traded in monetary terms. This concept sits at the heart of exchange relationships and price formation mechanisms.

## vsm_relevance — 3.0 / 5.0

Nominal price has moderate VSM relevance, primarily relating to S4 (intelligence) as it represents information about market conditions and environmental signals. However, it's somewhat abstract as a pure measurement concept rather than an active system component.

## explanatory_value — 4.0 / 5.0

This entity provides significant explanatory power by enabling analysis of how monetary policy, currency fluctuations, and market interventions (like bounties) can create divergences between apparent and real value. It illuminates important mechanisms in Smith's critique of mercantile policies.
