Meaning of deficit (what is it, concept and definition)

What is Deficit:

Deficit is taken in the economy or trade as the overdraft that results comparing the existing having with the capital put in the company. The term deficit is used to indicate the lack of funds in an account, that is, the result between income and expenses is a negative number.

The term deficit is of Latin origin, it comes from the verb "deficere" which means " missing or faltering ", this word was used by the French to refer to what was missing after taking an inventory.

The term deficit can be observed in different contexts. The fiscal deficit is related to the Public Administration of a State, it indicates the negative difference between the income and expenses of a State in a determined time, that is to say, the governmental expenses were greater than the income. Some experts relate the fiscal deficit to the budget deficit making a caveat that does not always indicate that expenses exceeded income, since it may be that the person, company or nation in a certain period obtained less profit and higher expenses, these being unexpected.

The public deficit is the balance of the accounts of all the Public Administrations of a country, it includes governorates, municipalities, autonomous regions, etc. On the other hand, the trade deficit in the balance is characterized by the increase in imports over exports.

In reference to the above, to know about the balance and, specifically, the budget deficit of a State, company or individual, a set of accounting formulas and balances is used, without forgetting to use a ratio. The ratio allows to measure liquidity, solvency, and profitability.

On the other hand, deficit is used to refer to a deficiency with respect to a normal level, for example: deficiency in platelets. Likewise, the word deficit can indicate the lack or scarcity of something that is qualified as necessary: food deficit, job deficit, etc.

Attention deficit

Attention deficit is a chronic, evolutionary and genetically transmitted neurobiological disorder. It is also a conduct disorder that begins to reveal itself from 7 years of age, although sometimes it can be done earlier. Attention deficit is characterized by maintaining attention in academic and daily activities, harming the individual in the different environments of his life, either in school or in his interpersonal relationships.

Attention deficit is characterized by: the individual does not pay enough attention, avoids tasks that require mental effort, is easily distracted by irrelevant stimuli, forgets daily tasks, does not seem to listen when spoken to, shows impatience, restlessness, feeling of security, difficulty organizing, among other symptoms.

However, there is an attention deficit disorder with hyperactivity and impulsivity, it is what is known as combined or mixed ADHD.

Cognitive deficit

Cognitive deficit, known as cognitive disability, is a disorder defined by below-average intellectual functioning; this disorder occurs in the stage of development of the individual.

People with cognitive deficits are characterized by presenting difficulties in the development of verbal and mathematical intelligence.

Deficit and surplus

The terms deficit and surplus are observed in the trade balance, which is an accounting report, carried out by a specialist, that is, an accountant, which consists of all the international trade operations carried out by a State, company or individual in a certain period. Therefore, a trade deficit is shown when imports are greater than exports, consequently, a negative difference is obtained between income obtained from abroad and expenses made abroad.

In contrast to the trade deficit, there is a surplus characterized by exports being greater than imports, we are facing a positive difference.