A circular economy (also referred to as “circularity”) is an economic system that tackles global challenges like climate change, biodiversity loss, waste, and pollution.
Benefits offered by Circular Economy
For Economy
Economic growth, as defined by GDP, would be achieved mainly through a combination of increased revenues from emerging circular activities.
It lowers the cost of production through the more productive utilization of inputs.
These changes in input and output of economic production activities affect economy-wide supply, demand, and prices.
Its effects ripple through all sectors of the economy adding to overall economic growth.
