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• When analysing markets, a range of assumptions are made about the rationality of economic agents involved in the transactions
• The Wealth of Nations was written

  1776
• Rational


  (in classical economic theory) economic agents are able to consider the outcome of their choices and recognise the net benefits of each one
• Consumers act rationally by


  Maximising their utility
• Producers act rationally by


  Selling goods/services in a way that maximises their profits
• Workers act rationally by


  Balancing welfare at work with consideration of both pay and benefits
• Governments act rationally by

  Placing the interests of the people they serve first in order to maximise their welfare
• Rationality in classical economic theory is a flawed assumption as people usually don't act rationally
• Marginal utility


  The additional utility (satisfaction) gained from the consumption of an additional product
• If you add up marginal utility for each unit you get total utility
• Main topic


  How colours are important to animals
• Colourful animals


  • Parrots
  • Chameleons
• First way animals use colour

  To attract another animal
• Some animals use their natural colours to blend in with their environment so predators can't easily see them
• False-Leaf Katydid


  Looks like a leaf even though it is an insect
• Katydid insects make a chirping sound by rubbing their wings together
• Katydid insects are not only found in Africa
• Cryptic frog


  Sitting on a leaf
• When cryptic frog is easiest to see

  At night
• Second use of colour


  To warn predators that the animal is dangerous
• Bright colours do not always mean an animal is dangerous
• Blue poison dart frog


  • Lives in the rainforests of South America
  • Has enough poison to kill more than 8 men if it bites you
• Difference in animal colours


  Depends on their gender, age or location
• Ostrich colours


  • Female ostriches are grey and brown
  • Male ostriches are black and white
• Students have to do homework before the next class
• Main Idea


  The central or most important idea that the listening passage is about

  
• Detail


  Specific information or facts that support the main idea
• Inference


  A conclusion drawn based on the information provided in the listening passage
• The two people are discussing the woman's holiday to Austria
• The lady really enjoyed her time away from London

  True
• The lady feels that London has nice weather

  False
• Winter activities


  • Skiing
  • Snowboarding
• How the woman shared her photos

  She posted them on Facebook
• Mullerlaufen


  • A festival
• Both the man and woman use social media


  True
• How often the festival takes place

  Once every 4 years
• The number of villages that are part of the Martha villages is 4
• The village the woman stayed in was Mullerlaufen
• The Mullers represent the old people in the village
• Materials the masks are made of


  • Wood
  • Paper