What do you mean by binomial nomenclature?

What do you mean by binomial nomenclature?

According to the international rule, the combined name which is given to an animal by placing the name of the 'genus' first and then the name of the 'species' is called binomial nomenclature. In this case, both the words are either in Latin or in modified Latin. 

For example, the scientific name of humans is Homo sapiens. Here, the first word indicates genus while the second word indicates species.