Meaning & Definition of word "Deficit"
to
Deficit
/ˈdɛfɪsɪt/
noun:
- 1. the amount by which something, typically a sum of money, is too small.
- Example: The country is facing a budget deficit that has raised concerns among economists.
- 2. a deficiency in the quantity or quality of something.
- Example: The school district reported a deficit in educational resources that needs to be addressed.
- 3. the amount by which an individual's or organization's expenses exceed their income.
- Example: After reviewing his finances, he realized he was running a deficit each month.
Etymology
From Latin 'deficere', meaning 'to fail, to be lacking'.
Common Phrases and Expressions
budget deficit:
A situation where expenditures surpass revenues.
deficit spending:
Government spending that exceeds revenue.
trade deficit:
A situation where a country's imports exceed its exports.
Related Words
surplus:
An amount that is more than what is needed.
balance:
The state of having equal amounts on each side.
expenditure:
The action of spending funds.