Describe the role of shortages and surpluses in competitive markets?

The main role of deficit and surplus in the competitive market are the equilibrium-the state of the market, in which the volume of demand is equal to supply. The point of intersection of supply and demand is called the equilibrium point. The volume of sales at the point of equilibrium is called equilibrium volume. The price at the point of equilibrium is called the equilibrium price.  

In equilibrium, the market is balanced. The installed price suits both sellers and buyers. If the price is not equal equilibrium market is not balanced. And buyers and sellers have effective incentives to change the situation.

seeing as no choices were provided, i'll do my best to answer it from knowledge.

job specialization promotes work ethic to the person doing the job. he/she may be strong in the arms and able to lift things, specializing him/her in a job where you lift and carry.

lancelot said to the beautiful ellen i c u r a b u t l n (i see you are a beauty lancelot was the greatest and worst of the knights who became the king's champion and undertook quests in the king's name. he became the adulterous lover of queen guinevere, and they had a son named galahad.