Deficits: meaning, definitions and examples

Used when there is a failure to meet a financial target or expectation; often discussed in business, budgets, or production contexts.

• The nonprofit is facing a shortfall in its funding this year.
• The production shortfall led to delays in delivery.

Pertains to an amount of money borrowed and expected to be paid back, often used in contexts like personal finance, national finance, or business.

• She has a lot of student debt to pay off.
• The country's national debt is reaching unprecedented levels.

Refers to a situation where the supply of something is less than the demand, applicable to goods, services, resources, etc.

• There is a shortage of nurses in the hospital.
• The grocery store faced a shortage of bread after the storm.

Similar to 'deficit', but specifically in plural form, useful when discussing multiple shortfalls in different contexts.

• The organization has several deficits that need to be addressed
• Both the fiscal and trade deficits pose a challenge to the economy

Appropriate for everyday use when there's a lack of supply, often temporary and tangible items.

• There is a shortage of workers in the tech industry
• The city is experiencing a shortage of medical supplies

Best used when talking about a general lack of something, often in a medical, nutritional, or functional context.

• The patient was diagnosed with insulin insufficiency
• There was an insufficiency of data to draw a conclusion

Ideal for situations where there is a limited availability of resources, often leading to increased value or competition.

• Water scarcity is becoming a major issue in many regions
• The scarcity of affordable housing is a growing concern