Growth models are frameworks used to understand how economies, businesses, or populations expand over time. They help predict future growth based on various factors, such as investment, labor force, and technology. Common types of growth models include the Solow Growth Model, which emphasizes the role of capital accumulation and technological progress, and the Logistic Growth Model, which describes how populations grow rapidly at first but slow down as they approach their environmental limits. These models are essential for policymakers and business leaders as they provide insights into potential growth trajectories. By analyzing different scenarios, stakeholders can make informed decisions about resource allocation, strategic planning, and long-term sustainability. Understanding growth models can also help identify challenges and opportunities in a changing economic landscape.