(Answered) Question 14When quantity supplied exceeds quantity demanded, aoccurs, andtifat pushes the market…

➤ How does a surplus differ from a shortage in markets?
A surplus is excess supply; a shortage is excess demand. In a surplus, sellers lower prices and store unsold goods. In a shortage, buyers bid prices up and ration scarce products. Each condition signals different adjustments: surplus triggers price declines and output cuts, while shortage prompts higher prices and increased production if possible.