1. Explain how John Wanamaker invented the pastime of 'shopping'.
2. Explain, with examples, the following concepts:
3. Price taking
4. Dynamic pricing
5. Market clearing price
6. Surge pricing
7. Smart pricing
8. Price making
9. Predatory pricing
10. Price discrimination (only a few words - very simply)
11. What evidence is there in the article to support the thought that, rather than giving consumers more knowledge, computer technology gives suppliers an advantage through asymmetric information? (Remember to use definitions in your answers).
12. How can pricing technology make markets such as food retailing more competitive and consequently benefit both consumers and retailers?