Explanation:

- Price Flooring: A minimum price set by the government or a regulatory body, below which the price of a good or service cannot fall. It is typically used to ensure producers receive a minimum income.

- Option 1: Shortage: A shortage occurs when the quantity demanded exceeds the quantity supplied at a given price. This is common when prices are artificially set too low, known as price ceilings, not price floors.

- Option 2: Surpluses: Surpluses occur when the quantity supplied exceeds the quantity demanded due to an artificially high price, which is the result of a price floor.

- Option 3: Equilibrium: This is the market state where supply equals demand, which is disturbed by price controls like floors or ceilings.

- Option 4: None of the above: This is incorrect as option 2 is correct.