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What is a shortfall?

What is a shortfall? Here are some definitions.

Noun
  1. An instance of not meeting a quota, debt, or monthly payment on a debt or other obligation, or of having an insufficient amount to cover such obligations.
  2. The amount by which a quota, debt, or monthly payment on a debt or other obligation is missed; the difference between the actual quota or debt and the lesser amount available to pay such obligations.
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Examples
I have been warned to expect a significant shortfall on my mortgage endowment.
The Wallacean shortfall refers primarily to the inadequacy of our knowledge of the geographical distributions of species.
We have now been told by our insurer that a shortfall is likely and we were not warned at the outset.
Chief executive Chris Moller informed an audience in Auckland that the shortfall in hotel beds could be made up by the use of Winnebagos.
Between desire and reality, potential and realization, what could be and what is, lies the shortfall.
Some of that shortfall can be explained away by a booming economy, growing employment and a falling social security burden.

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