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• Set


  A group or collection of objects
• Set


  • Named using capital letters
  • Each object in a set is called a member or an element
• Types of sets


  • Integers
  • Whole numbers
  • Counting numbers
  • Even numbers
  • Odd numbers
  • Prime numbers
  • Composite numbers
  • Perfect squares
  • Multiples
  • Factors
• 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
• Well-defined set


  A set where the membership criteria is clear and unambiguous
• Not well-defined set


  A set where the membership criteria is unclear or subjective
• Empty set/Null set


  A set with no members or elements
• Cardinality


  The number of elements in a given set
• Cardinality of an empty set is 0