Circular Economy Business Models Quiz
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Circular Economy Business Models Quiz

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Questions and Answers

What are examples of new business models mentioned in the text?

  • Resource depletion and pollution
  • Disposal economy and single-use products
  • Product as a service and upcycling (correct)
  • Linear economy and waste generation
  • Which model aligns with sustainable consumption and production in a circular economy?

  • Make to use to throw away to pollute
  • Cradle to cradle (correct)
  • Depletion of natural resources
  • Security of resources
  • What is a key principle of circular economy according to the text?

  • Promoting waste generation
  • Eliminating waste and pollution (correct)
  • Maximizing resource depletion
  • Increasing inequality
  • What are the consequences of a linear economy as described in the text?

    <p>Waste, pollution, and inequality</p> Signup and view all the answers

    Which of the following is part of the 7 R's model in a circular economy?

    <p>Recover and recycle</p> Signup and view all the answers

    How do products in a circular economy differ from those in a linear economy?

    <p>Designed for return to the environment after use</p> Signup and view all the answers

    What is one way to implement circular economy principles in urban areas and regions?

    <p>Developing circular economy business parks</p> Signup and view all the answers

    How can the supply chain support the circular economy?

    <p>Implementing a closed-cycle supply chain</p> Signup and view all the answers

    In a circular economy, what type of inputs are used in production processes?

    <p>Renewable, recycled or strongly recyclable inputs</p> Signup and view all the answers

    What is the key concept of sharing economy in a circular business model?

    <p>Maximizing the use of unused goods within a community</p> Signup and view all the answers

    Which of the following is NOT a way to implement circular economy principles?

    <p>Encouraging single-use plastic packaging</p> Signup and view all the answers

    How do 'born circular' producers benefit from using circular inputs?

    <p>Lower costs for production inputs as materials come from surplus and recycled sources</p> Signup and view all the answers

    What is a key role of cities and regions in implementing circular economy practices?

    <p>Designing buildings and products for reuse, repair, and recycling</p> Signup and view all the answers

    What does the product as a service concept in a circular economy focus on?

    <p>Providing products to customers as a service rather than selling them outright</p> Signup and view all the answers

    Which strategy is crucial in extending the use of products and reducing waste in a circular economy?

    <p>Implementing product-as-a-service models</p> Signup and view all the answers

    What is an example of a circular economy project that supports resource recovery?

    <p>Creating circular procurement policy for cities and public institutions</p> Signup and view all the answers

    What is the objective of extending the use of a product in a circular business model?

    <p>To maximize the lifespan of products and reduce waste</p> Signup and view all the answers

    How does the circular economy approach shared industrial items like conveyor belts and machinery?

    <p>By providing access without buying or renting from traditional suppliers</p> Signup and view all the answers

    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.

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