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    Geometric Growth

    Alternate name

    geometric growth

    Basic definition

    Exponential growth is the increase in a quantity according to an exponential function.

    Detailed definition

    Exponential growth is the increase in a quantity N according to the law N(t) = N_0 e^(λ t) for a parameter t and constant λ (the analog of the decay constant), where e^x is the exponential function and N_0 = N(0) is the initial value. Exponential growth is common in physical processes such as population growth in the absence of predators or resource restrictions (where a slightly more general form is known as the law of growth). Exponential growth also occurs as the limit of discrete processes such as compound interest.

    Related terms

    exponential decay | exponential function | growth | law of growth | Malthusian equation | Malthusian parameter | population growth

    Educational grade level

    college level (AP calculus AB, California calculus standard)

    Associated person

    Thomas Malthus

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