Definitions and Examples of shortage, deficit
Learn when and how to use these words with these examples!
A situation in which there is not enough of something that is needed.
Example
The drought caused a shortage of water in the region.
The amount by which something, especially a sum of money, is too small.
Example
The company had a budget deficit of $10 million last year.
Key Differences: shortage vs deficit
- 1Shortage refers to a lack of something that is needed or required.
- 2Deficit refers to an amount that is too small, especially in terms of money.
Effective Usage of shortage, deficit
- 1Economics: Use shortage and deficit to describe economic situations.
- 2Business: Use deficit to describe financial shortfalls in a business.
- 3Daily Life: Use shortage to describe a lack of resources or supplies in daily life.
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Remember this!
The antonyms shortage and deficit convey a lack or insufficiency of something. While shortage refers to a lack of something that is needed or required, deficit refers to an amount that is too small, especially in terms of money. These words can be used in economics, business, and daily life to describe situations where there is not enough of something.
