The logistic growth model is commonly used to describe how populations grow in natural environments. Unlike exponential growth, which assumes unlimited resources, the logistic model accounts for the fact that resources like food, space, and water are limited. This leads to a more realistic representation of population growth, since it includes the concept of carrying capacity (K), which is the maximum population size that the environment can sustainably support.
The formula for the logistic growth model is given by:
- \[ \frac{dP}{dt} = rP \left( 1 - \frac{P}{K} \right) \]
- Here, \( P \) represents the population size, \( t \) is time, \( r \) is the intrinsic growth rate, and \( K \) is the carrying capacity.
The model starts with exponential growth when the population is small. As the population nears the carrying capacity, the growth rate slows down and eventually stops.