deficit

def·i·cit

noun
\ˈde-fə-sət, British also di-ˈfis-ət or ˈdē-fə-sət\

Definition of DEFICIT

1

a (1) : deficiency in amount or quality <a deficit in rainfall> (2) : a lack or impairment in a functional capacity <cognitive deficits> <a hearing deficit> b : disadvantage <scored two runs to overcome a 2–1 deficit>

2

a : an excess of expenditure over revenue b : a loss in business operations

Examples of DEFICIT

1. The government is facing a deficit of $3 billion.
2. We will reduce the federal budget deficit.
3. The team overcame a four-point deficit to win the game.
4. She has a slight hearing deficit in her left ear.

Origin of DEFICIT

French déficit, from Latin deficit it is wanting, 3d singular present indicative of deficere

First Known Use: 1782

Related to DEFICIT

Synonyms: crunch, dearth, deficiency, drought (also drouth), failure, famine, inadequacy, inadequateness, insufficiency, lack, lacuna, paucity, pinch, poverty, scantiness, scarceness, scarcity, shortage, undersupply, want

Antonyms: abundance, adequacy, amplitude, opulence, plenitude, plenty, sufficiency, wealth

Related Words: absence, omission; meagerness, poorness, skimpiness; necessity, need, privation

Near Antonyms: bountifulness, copiousness; excess, overabundance, oversupply, surfeit, surplus

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Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer