I have two questions regarding the definition of Schwartz functions. So if we have the Schwartz space $$\mathcal{S}(\mathbb{R}^n)=\left\{ \phi \in C^\infty(\mathbb{R}^n) \,\Big|\, \forall \alpha, \beta \in \mathbb{N}_0^n: \; \sup_{x\in\mathbb{R}^n} |x^\alpha D^\beta \phi(x) | <\infty\; \right\} $$
Is it correct that the point why we have an $x^\alpha$ in front of the differential operator is to have a derivative that goes faster to $0$ than any polynomial grows?
Also does this mean that for an $\alpha$ there exist a $\beta$ such that for $\beta\leq $ derivatives the supremum is finite or must for any $\alpha$ the derivative always be finite, no matter what $\beta$ is?