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Synonyms for Shortfall: incompleteness (noun) curtailment, deficiency, deficit, discontinuity, fraction, fragmentation, gap, hiatus,
BREAKING DOWN 'Shortfall'. A shortfall can refer to a current situation as well as one predicted for the future. A shortfall applies to any situation where the amount of funds required to meet an obligation are not available. Shortfalls can occur in the business arena as well as to individuals.