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 IT resource planning, a 'deficit' might mean that the required tech resources, like server capacity, are not meeting the demand. An IT manager might mention, 'Our server deficit during peak hours is affecting site performance.'

Practice Scenarios

Public-Policy

Scenario:

Government expenditures are running at an unsustainably high level. Future generations might bear the burden if we don't address this soon.

Response:

The government must indeed act to contain this impending deficit. Maybe we should consider fiscal measures.

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.