Logistic growth is a growth model in which a quantity increases according to a fixed rate, but that rate is progressively throttled by a carrying capacity K that caps the maximum size the quantity can reach.
Where plain exponential growth multiplies by the same factor forever and climbs without
any limit, logistic growth starts out behaving almost identically, then bends. As the
quantity climbs toward K, the room left to grow shrinks, and so does the size of each
period's increase, until the curve flattens out just short of the ceiling.
Plotted against time, this produces the characteristic S-shape (also called a sigmoid
curve), unlike the ever-steepening J-shape of unconstrained exponential growth.
The S-curve has three visible phases: a slow start near P₀, a fast middle stretch where
growth looks almost exponential, and a flattening top where the curve settles in near K.
The hinge between the fast middle and the flattening top is the inflection point, the
single moment where the curve is rising fastest. It always occurs at exactly half the
carrying capacity, P = K/2, never earlier, never later, regardless of the growth rate
or the starting value. Before that point the population is still accelerating; after it,
growth keeps happening but each period adds less than the one before.
This single throttling idea, growth that slows as it nears a limit, is what separates
logistic growth from the unconstrained model used elsewhere on this site, and it is why
the two curves need two different formulas even though they start from the same place.