Deficits Meaning: Definition, Examples, and Translations
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deficits
[ˈdefɪsɪts ]
Definitions
economic situation
Deficits refer to the amount by which a sum of money falls short of the required amount. In the context of economics, deficits usually refer to budget deficits, where a government's spending exceeds its revenue. Deficits can lead to increased borrowing and debt accumulation.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| shortfall |
Used when there is a failure to meet a financial target or expectation; often discussed in business, budgets, or production contexts.
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| debt |
Pertains to an amount of money borrowed and expected to be paid back, often used in contexts like personal finance, national finance, or business.
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| shortage |
Refers to a situation where the supply of something is less than the demand, applicable to goods, services, resources, etc.
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Examples of usage
- The country's budget deficits have been steadily increasing over the past few years.
- The government is working on measures to reduce the deficits and stabilize the economy.
deficiency or lack
Deficits can also refer to deficiencies or lacks, such as a deficit in knowledge or skills. It indicates a shortage or inadequacy in a particular area.
Synonyms
insufficiency, scarcity, shortage.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| deficits |
Similar to 'deficit', but specifically in plural form, useful when discussing multiple shortfalls in different contexts.
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| shortage |
Appropriate for everyday use when there's a lack of supply, often temporary and tangible items.
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| insufficiency |
Best used when talking about a general lack of something, often in a medical, nutritional, or functional context.
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| scarcity |
Ideal for situations where there is a limited availability of resources, often leading to increased value or competition.
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Examples of usage
- There is a deficit of qualified workers in the labor market.
- The deficit in funding for education has resulted in poor quality facilities.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Economics
- In economics, a budget deficit occurs when expenses exceed revenues, prompting governments to borrow money.
- Many countries implement policies to reduce deficits during economic downturns to stabilize their finances.
Psychology
- In a psychological context, deficits can refer to a lack of skills or abilities, such as cognitive deficits affecting learning processes.
- Research shows that emotional deficits, like a lack of empathy, can impact social interactions and relationships.
Education
- In special education, learning deficits may require tailored teaching methods to help students catch up.
- Teachers often use assessments to identify skill deficits in students to provide additional support where necessary.
Health
- Nutritional deficits refer to a lack of essential vitamins or minerals, which can lead to various health issues.
- In mental health, deficits in coping skills can contribute to anxiety or depression disorders.
Origin of 'deficits'
Main points about word origin
- The word 'deficit' comes from the Latin 'deficere', meaning 'to fail' or 'to be lacking'.
- The term has been used in English since the late 14th century, mainly relating to shortfalls in resources.
The word 'deficits' originated from the Latin word 'deficere', meaning 'to fail'. It first appeared in English in the mid-18th century. Over time, the term has evolved to encompass various contexts, from financial deficits to deficits in knowledge or resources.