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?

Waste, pollution, and inequality Signup and view all the answers

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

Recover and recycle Signup and view all the answers

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

Designed for return to the environment after use Signup and view all the answers

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

Developing circular economy business parks Signup and view all the answers

How can the supply chain support the circular economy?

Implementing a closed-cycle supply chain Signup and view all the answers

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

Renewable, recycled or strongly recyclable inputs Signup and view all the answers

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

Maximizing the use of unused goods within a community Signup and view all the answers

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

Encouraging single-use plastic packaging Signup and view all the answers

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

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

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

Designing buildings and products for reuse, repair, and recycling Signup and view all the answers

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

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

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

Implementing product-as-a-service models Signup and view all the answers

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

Creating circular procurement policy for cities and public institutions Signup and view all the answers

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

To maximize the lifespan of products and reduce waste Signup and view all the answers

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

By providing access without buying or renting from traditional suppliers 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.