deficit

Vocabulary Word

Definition

'Deficit' refers to a situation where something is less than the required amount. In simple terms, if expenses are more than income, you would say there is a deficit.

Examples in Different Contexts

In film production, 'deficit financing' is when a studio spends more on producing a film than they currently have, expecting the movie to generate profits later. A producer might discuss, 'Despite the deficit, we believe this film has blockbuster potential.'

Practice Scenarios

Business

Scenario:

The company's expenditures this quarter have remarkably surpassed our initial projections. We need a new cost-saving strategy.

Response:

Agreed, we must manage the deficit before it makes a significant impact on our bottom line.

Academics

Scenario:

Our latest grant application was unfortunately rejected. This puts our upcoming research projects in a delicate position.

Response:

With this funding deficit, we must be creative and seek out alternative funding options for our research.