Bing Powered by Al Here are some short notes for chapter 2: Chapter 2 introduces the concept of economic models, which are simplified representations of economic phenomena using mathematical methods. Economic models consist of variables, constants, and parameters, which are related by equations and identities, Variables can be either endogenous (determined within the model) or exogenous (determined outside the model). The chapter discusses the real-number system, which includes integers, fractions, rational numbers, and irrational numbers. It also explains the concept of sets, which are collections of objects that share some common property. The chapter defines the notions of relations and funetions, which are ways of associating elements from one set to another. A function is a special type of relation that assigns a unique value to each element in the domain (the set of inputs). The chapter presents various types of functions, such as constant, polynomial, rational, and nonalgebraic functions, and explains their properties and applications in economics. It also shows how to graph functions of one or two independent variables using Cartesian coordinates. The chapter introduces some basic rules of algebra and arithmetic, such as the laws of set operations, the rules of exponents, and the order of operations. It also explains how to solve equations and inequalities involving one or more variables.