Deficit: meaning and example
English
Deficit
The amount by which something, especially a sum of money, is too small.
“A budget deficit occurs when a government spends more money than it receives in revenue.”
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More words from Economics II
Opportunity Cost
The loss of potential gain from other alternatives when one alternative is chosen.
Fiscal Policy
Government adjustments in spending levels and tax rates to monitor and influence a nation's economy.
Monetary Policy
The process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.
Consumer Price Index (CPI)
A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
Balance of Trade
The difference between a country's imports and its exports.
Liquidity
The availability of liquid assets to a market or company.
Marginal Cost
The cost of producing one additional unit of a product.
Elasticity
A measure of a variable's sensitivity to a change in another variable.
