economic life
Definition
Period over which an asset (machine, property, computer system, etc) is expected to be usable, with normal repairs and maintenance, for the purpose it was acquired, rented, or leased. Expressed usually in number of years, process cycles, or units produced, it is usually less than the asset's physical life, and is the period over which the asset's depreciation is charged. Also called average life, economic useful life, effective life, mean life, or useful life.
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economic life is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
economic life appears in the definitions of the following terms:
capitalized value,
full payment lease,
service life,
projected total life cost,
mean life,
capital lease,
effective life,
depreciable asset,
average life,
useful life
and
economic life appears in these other term: economic life provision
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http://www.businessdictionary.com/definition/economic-life.html