DEFICITS Meaning and
Definition
-
Deficits, in the context of economics or finance, refers to the negative gap between two variables, typically representing shortfalls or imbalances. It is commonly associated with the shortfall between income and expenditure, where expenditures exceed income and result in a deficit. This term can also characterize a discrepancy between resources or capabilities and the required amount to accomplish a particular goal or fulfill a certain obligation.
In government finances, deficits occur when expenditures exceed revenues, leading to a budget deficit. The term is often used to describe the shortfall between a government's total spending and its total revenue from taxes, duties, and other sources. This deficit is typically financed through borrowing or issuing government bonds, adding to the national debt.
Furthermore, trade deficits occur when the value of a country's imports surpasses the value of its exports. This situation indicates that a nation is importing more goods and services than it is exporting, resulting in a negative balance of trade.
In a broader sense, deficits can also refer to deficiencies or shortcomings in various fields. For instance, a person may have deficits in knowledge or skills, indicating a lack or inadequacy in a particular area of expertise. Similarly, deficits can be observed in infrastructure, education, healthcare, or any other sector when there is a substantial gap between the current state and the desired level of performance or resources.
Top Common Misspellings for DEFICITS *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for DEFICITS
Etymology of DEFICITS
The word "deficits" can be traced back to the Latin word "deficit", which is the third-person singular present indicative form of the verb "deficere". "Deficere" consists of two Latin roots: "de" meaning "from" or "down" and "facere" meaning "to do" or "to make". Therefore, "deficere" can be translated to "to lack" or "to fail". Over time, this Latin word evolved into "deficit" in English, which refers to a lack or insufficiency, particularly in financial terms. The plural form, "deficits", emerged later to denote multiple insufficiencies or shortfalls.
Similar spelling words for DEFICITS
Infographic
Add the infographic to your website:
