economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ...

, deficit is the excess of an organization's expenditure over its revenue, such as in: *

Deficit spending Within the budgetary process, deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit, the opposite of budget surplus. The term may be applied to the budg ...

, the amount by which spending exceeds revenue * Government deficit spending: a negative

government budget balance The government budget balance, also referred to as the general government balance, public budget balance, or public fiscal balance, is the difference between government revenues and spending. For a government that uses accrual accounting ( ...

; fiscal deficit of that year= total borrowing by government **

Primary deficit The government budget balance, also referred to as the general government balance, public budget balance, or public fiscal balance, is the difference between government revenues and spending. For a government that uses accrual accounting (ra ...

, the pure deficit derived after deducting the interest payments ** Structural and cyclical deficit, parts of the public sector deficit * Income deficit, the difference between family income and the poverty threshold * Trade deficit, when the value of imports exceed the value of exports; a negative

balance of trade Balance of trade is the difference between the monetary value of a nation's exports and imports of goods over a certain time period. Sometimes, trade in Service (economics), services is also included in the balance of trade but the official IMF d ...

See also