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.
(3) Increasing Real GDP per capita. The definition of economic growth used in our multimedia lesson on economic growth (Macro_015.les) is an increase in GDP per capita. This means increasing output per person. GDP per capita is calculated by dividing output by the population.