Cause & Rightarrow Surplus arrow & }(l) Quantity supplied is greater than quantity demanded & Rightarrow & Quantity supplied is less than the quantity demanded & Rightarrow Shortage arrow &

Sure, let's fill in the blanks based on the information provided:1. **Surplus**: - Cause: Quantity supplied is greater than quantity demanded. - Surplus: (The blank should be filled with "exists" or "occurs")2. **Shortage**: - Cause: Quantity supplied is less than the quantity demanded. - Shortage: (The blank should be filled with "exists" or "occurs")So the completed sentences are:1. **Surplus**: - Cause: Quantity supplied is greater than quantity demanded. - Surplus exists.2. **Shortage**: - Cause: Quantity supplied is less than the quantity demanded. - Shortage exists.