Exponential growth refers to a process where the quantity increases at a rate proportional to its current value. This means that as the amount grows, it accelerates rapidly over time. A common example is the growth of populations, where each generation can produce more offspring, leading to a larger base for future growth. In mathematics, exponential growth is often represented by the equation y = a(1 + r)^t , where a is the initial amount, r is the growth rate, and t is time. This concept is crucial in various fields, including biology, finance, and technology, where understanding rapid increases can inform decision-making and planning.