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In a sentence
Oni majú vždy nedostatok peňazí.
They are always short of money.
Nedostatok úcty nie je niečo, čo by som mohol pokojne prijať.
Lack of respect is something I cannot easily put up with.
Pre nedostatok času nestihla dokončiť úlohu.
Due to a lack of time she did not finish the task.
V obchode je dočasný nedostatok múky.
There is a temporary shortage of flour in the shop.
Examples from Tatoeba (CC BY 2.0 FR).
Source
Slovak National Corpus (SNK) ↗English gloss from the frequency publish path. Includes Tatoeba example sentences when present.
Full attribution on References.