Question

List 6 aspect / characteristics of linear economy and circular economy and what is the difference between them

Answer 1

Linear economy: This is an economy based on ‘take-make-consume-waste’ approach

Characteristics of linear economy

1. Up to the 20th century, industrial nations generated material wealth with linear economy.

2. Products are sold as many as possible to create value.

3. Increase in demand for materials is created in this economy.

4. This economy neglect recycling, reusing and never put much emphasis on waste.

5. Producers rely on extensive use of materials.

6. Productivity of our ecosystems is affected by this economy.

Circular economy: It is a closed loops economic system where value of every component is lost very less.

Characteristics of Circular economy

1. Raw materials, products and energy lasts as long as possible and is more profitable

2. It is a reuse economy approach.

3. Material cycles are closed.

4. Cause less harm to the environment.

5. Apart from the joint efforts of industries, the civil society, government etc. it require innovation.

6. Prevent waste.

Difference between Linear economy and Circular economy

• Linear economy focuses on eco-efficiency but circular economy focus on eco-effectiveness of the system.
• In Circular economy raw materials are dealt in an efficient way than in a linear model.
• When linear economy is based on “Take-make-dispose”, Circular economy has “Reduce-reuse-recycle” approach.
• When linear economy is having Short term life, Circular economy has Long and multiple life.
• Linear economy is down cycling, Circular economy is up cycling.