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## SS2: ECONOMICS - 1ST TERM

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Lesson 2, Topic 3
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# Mathematical Terms Used in Comparing Numbers

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#### Topic Content:

• Mathematical Terms Used in Comparing Numbers
• Ratio, Rates, Fractions, Percentages, and Decimal

### Ratio, Rates, Fractions, Percentages, and Decimal:

The mathematical terms are derived from natural numbers which are frequently used in comparing numbers in economic analysis.

A percentage is a part of the total expressed in 100 parts. It is any proportion in relation to a whole.

Percent means parts per hundred e.g. 5% of rice means $$\frac{5}{100}$$

Ratio is described as the relationship between two numbers. It is the relative size of any number. e.g. A plate containing 5 carrots and 1 nut, the ratio of carrots to the nut is 5 to 1 i.e. 5 : 1.

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