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What is the balance?



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The balance is an economic term that can have several meanings depending on the context in which it is used. For example, starting with the field of accounting, the balance refers to the difference between income and expenses (concept similar to that of expenses). To give you a more specific definition, the balance of an … Read more

What is the deficit?



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The meaning of deficit is the situation that occurs when there is a shortage of something necessary. In the economic sphere, it is understood as a deficit when expenses exceed income, with the corresponding shortage of money. The concept of deficit is mainly linked to the commercial world of states and companies, but there are … Read more