Growth Model

A growth model is a framework used to understand how economies, businesses, or populations expand over time. It examines various factors that contribute to growth, such as resources, investments, and technology. In economics, for example, growth models help explain how increased productivity and capital can lead to higher output and improved living standards. By analyzing different scenarios, these models assist policymakers and businesses in making informed decisions to foster sustainable growth, predict future trends, and address challenges like inequality and environmental impact.