one more remark about the usefulness of rational functions as opposed to everywhere regular functions (polynomials). Although rational mappings are not well defined at the zeroes of their denominators, this can actually be an advantage! Consider the polynomial mapping taking t to (t^2,t^3), from the t- line to the plane cubic curve y^2 = x^3. This curve is not smooth but has a "cusp" at the origin, where the curve comes to a point. Still the map is bijective from the smooth t-line to the curve. The cusp prevents the map from having a regular inverse, but nonetheless it has a rational inverse defined by sending (x,y) to y/x. The fact that this map is not well defined at (0,0) is essential, and it still defines an inverse to the original map, everywhere one exists. In general such rational maps are used to desingularize curves with singularities, by mapping them to curves without singularities, in a way which is as close as possible to an isomorphism, but of course necessarily not quite an isomorphism.
here is another similar one but with a small difference: map t to (t^2-1, t(t^2-1)), to parametrize the curve y^2 = x^2(x+1), also by the t-line. This curve is also singular but has a node at the origin, i.e. it crosses itself transversely there and there are two points of the t-line which map to the point (0,0), namely both t=1 and t= -1. The "inverse map" again takes (x,y) to y/x, and is not defined at (0,0) precisely because it is impossible, by a regular map, to send (0,0) back to both its preimages. Nonetheless this crucial feature allows us to desingularize this curve by this inverse map, the closure of whose image is the non singular t-line. The inverse map is a bijection from the curve minus the origin, to the open complement of the two points {1, -1} in the t-line. In general a desingularization of a singular curve is defined as a regular "proper" map from a smooth curve onto the singular curve, and that is isomorphic except over the singular points. But how to find such a map? I.e. how do we know which non - singular curve to use, since it is only the singular curve we have our hands on? We do this by constructing a sequence of rational maps from our singular curve, until we at last find a non singular image curve. This is called "blowing up" singularities, and the rational maps can be constructed by using projections from the singularities on a singular curve embedded in high dimensional space.
Notice that projection of the projective (x,y,z) plane to the (x,y) axis, a projective line, is not defined at the point (0,0,1) in the plane, since (0,0) is not a point in the projective line, so rational maps give an algebraic realization of the geometric process of projection.
E.g. the map of the nodal plane curve y^2 = x^2(x+1) to a line, can be realized geometrically by sending a point (x,y) away from (0,0) to the line through the origin spanned by the origin and the point (x,y). This maps the complement of the origin in the affine plane, to the projective line, and one can see that as we approach the origin along either branch of the node, the limiting value of the map, i.e. of the secant lines dfetermined by (0,0) and (x,y), is the corresponding tangent line to the nodal curve at the origin. Since there are two such tangent lines, we get in the limit a map sending the origin to two different points of the t- line, depending on which direction we approach the origin along the singular curve. Since t = y/x, the affine coordinate t of course only parametrizes the affine subset x≠0 of the projective (x,y) line. Note also that y/x, i.e. the slope, is a natural coordinate for the line through (x,y) and (0,0).
Note also that the two examples of singular plane curves had parametrizations which failed to have a regular inverse in different ways. The parametrization of the cusp was bijective but at t=0 the velocity vector was zero, so it was not locally invertible there. the parametrization of the node had two preimages of the origin, hence was not globally invertible, but at both of these preimages the velocity vector of the parametrization map was non zero. To have a regular inverse, a map must be both globally and locally invertible, but the rational inverses we found existed in both cases, i.e. rational maps solve both types of problems of non invertibility, which is rather wonderful!