Deficit

/ˈdɛfɪsɪt/

Meaning & Definition

noun

the amount by which something, typically a sum of money, is too small.

The country is facing a budget deficit that has raised concerns among economists.

a deficiency in the quantity or quality of something.

The school district reported a deficit in educational resources that needs to be addressed.

the amount by which an individual's or organization's expenses exceed their income.

After reviewing his finances, he realized he was running a deficit each month.

From Latin 'deficere', meaning 'to fail, to be lacking'.

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.

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.