Growth rate of functions refers to the rate at which a function’s output changes with respect to its input. It can be calculated by taking the derivative of the function. Understanding growth rates helps us analyze how quickly functions grow or decay, which is crucial in modeling real-world phenomena like population growth, radioactive decay, and even the spread of epidemics. Calculus provides powerful tools, such as derivatives and integrals, for determining growth rates, enabling us to predict future behaviors and make informed decisions.