Differentiate between growth rate, absolute growth rate, and relative growth rate with diagram
Please find below the solution to the asked query
Growth of population refers to change in the number of units (for example, inhabitants in case of population growth) during a specific period of time.The increase in rate is studied in percent per annum.
Absolute growth rate refers to the measurement and comparison of total growth per unit time.
Thus, Absolute growth = Growth in given time period.
Relative growth rate refers to the growth of a particular system per unit time, expressed on a common basis. For example, per unit initial parameter. Thus,
If you have any more doubts just ask here on the forum and our experts will try to help you out as soon as possible.
Growth rates refer to the percentage change of a specific variable within a specific time period, given a certain context.
ABSOLUTE GROWTH RATE:
An absolute growth rate is given in units, while a relative growth rate is given as a percentage.
RELATIVE GROWTH RATE:
Relative growth rate (RGR) is the growth rate relative to the size of the population. It is also called the exponential growth rate, or the continuous growth rate.