Economics Circular Economy Questions
A linear economy is a traditional economic model where resources are extracted, used to produce goods, and then disposed of as waste after their useful life. It follows a "take-make-dispose" approach, resulting in the depletion of natural resources and accumulation of waste.
On the other hand, a circular economy is an alternative economic model that aims to minimize resource consumption and waste generation. It focuses on designing products and systems that can be reused, repaired, or recycled, thereby creating a closed-loop system. In a circular economy, resources are kept in use for as long as possible, and waste is seen as a valuable input for other processes. This approach promotes sustainability, reduces environmental impact, and fosters economic growth.