For example, some inexpensive mowers are designed to have a service life of 200 or fewer hours while pricier mowers typically are designed to last 500 or more hours. Therefore, a lawnmowerâs life expectancy can be based on how often and how long it is used.
exponential growth. Increase in number or size, at a constantly growing rate. It is one possible result of a reinforcing feedback loop that makes a population or system grow (escalate) by increasingly higher amounts. Compound interest is an example of exponential growth. Use 'exponential growth' in a Sentence.
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP, usually in per capita terms. Growth is usually calculated in real terms â i.e., inflation-adjusted terms â to eliminate the distorting effect of inflation on the price of goods produced.