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Questions and Answers
What are examples of new business models mentioned in the text?
Which model aligns with sustainable consumption and production in a circular economy?
What is a key principle of circular economy according to the text?
What are the consequences of a linear economy as described in the text?
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Which of the following is part of the 7 R's model in a circular economy?
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How do products in a circular economy differ from those in a linear economy?
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What is one way to implement circular economy principles in urban areas and regions?
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How can the supply chain support the circular economy?
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In a circular economy, what type of inputs are used in production processes?
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What is the key concept of sharing economy in a circular business model?
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Which of the following is NOT a way to implement circular economy principles?
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How do 'born circular' producers benefit from using circular inputs?
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What is a key role of cities and regions in implementing circular economy practices?
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What does the product as a service concept in a circular economy focus on?
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Which strategy is crucial in extending the use of products and reducing waste in a circular economy?
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What is an example of a circular economy project that supports resource recovery?
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What is the objective of extending the use of a product in a circular business model?
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How does the circular economy approach shared industrial items like conveyor belts and machinery?
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Study Notes
Circular Economy Principles
- A circular economy involves continually innovating and designing new products and services that align with circular principles and sustainable consumption and production.
- The 3 principles of circular economy are:
- Eliminating waste and pollution
- Circulating products and materials
- The regeneration of nature
Linear Economy vs Circular Economy
- Linear economy: make, use, throw away, pollute
- Consequences of linear economy: depletion of natural resources, pollution, waste, and inequality
- Benefits of circular economy:
- Environmental benefits
- Economic benefits
- Social benefits
- Security of resources
- Increased competitiveness
- Increased resilience
7 R's Model
- The 7 R's model is a principle of circular economy
- The 7 R's are:
- Recover
- Redesign
- Reduce
- Reuse
- Repair
- Renovate
- Recycle
Implementing Circular Economy
- Ways to implement circular economy:
- Designing buildings, infrastructure, and products that can be reused, repaired, renovated, and recycled
- Increasing the use of renewable energy and energy efficiency
- Supporting local and circular food systems
- Encouraging the sharing and leasing of goods and services
- Investing in circular business models
- Developing policies and regulations that support the transition to a circular economy
Examples of Circular Economy Projects
- Developing circular economy business parks
- Creating circular procurement policy for cities and public institutions
- Creating circular economy districts
Supply Chain Role in Circular Economy
- The supply chain is in charge of the flow of materials, products, and waste
- The supply chain should be redesigned to reduce waste, increase resource efficiency, and support reuse, repair, renovation, and recycling
- The supply chain should use only sustainable materials and production processes
- Implementing a closed-cycle supply chain
- Adopting circular business models
Circular Business Models
- The 5 keys of circular business models:
- Circular inputs
- Concept of sharing economy
- Product as a service
- Extension of the use of the product
- Recovery of resources
- Examples of circular business models:
- Subscription-based models
- Sharing economy platforms
- Renewable energy services
- Upcycling companies
- Sustainable and local agriculture
- Green building and architecture
- Ethical fashion
- Social enterprises
- Services of offsetting carbon
Benefits of Circular Economy
- Benefits of the green sustainable economy:
- Protects the environment
- Boosts economic growth
- Saves money
- Promotes resource independence
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Description
Test your knowledge on circular economy business models such as product as a service, sharing economy, and upcycling. Explore principles of eco design and sustainable consumption in Chapter 2.