Initially, a population is 500, and it grows by 2% each year. Explain why the population is an exponential function of time.

Find a formula for the population at any time. (Let t represent time in years and P represent the population size.)

Determine the population size after 5 years. (Round your answer to the nearest whole number.)

Enclosure Movement ⇒ Improved efficiency in farming

The Enclosure movement saw communal land made into private land. The new owners then applied new agricultural methods that increased crop yields and improved efficiency in farming.

Spinning Jenny ⇒ Faster production of yarn and thread.

The spinning jenny revolutionized textile production by making it much easier to produce yarn and thread.

Steam engine ⇒ power source for machinery

The steam engine was able to use steam to do work in factories that previously would have required intense labor. This newfound ease in production allowed for faster manufacturing.

Canals ⇒ efficient transportation.

Canals allowed for goods to be transported inland to places over water which allowed for the transport to be faster and more efficient.