From Longman Business Dictionaryeconomic lifeˌeconomic ˈlifeACCOUNTING the length of time that an asset such as a building or machine produces more money than it costs to operate, or before it costs so much to repair that it should no longer be keptAlmost 15% of buses in service in the county are more than 15 years old, the limit of their economic life. → life
