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Principles Of The Circular Economy

Author

Listed:
  • Elizabeta Stamevska

    (European University, Skopje, Faculty of Economics)

  • Aleksandra Stankovska

    (European University, Skopje, Faculty of Economics)

  • Vasko Stamevski

    (International Slavic University "Gavrilo Romanovikj Derzhavin" Sveti Nikole - Bitola)

Abstract

Sustainability has become a vital part of many business strategies in the companies, which has prompted growing interest in the circular economy. While the terms circular economy and sustainability are increasingly gaining traction with academia, industry, and policymakers, the similarities and differences between both concepts remain ambiguous. The holistic view is fundamental to understanding the circular economy, which is not simply focused on using less. The circular economy aims to keep products, comp onents and materials at their highest utility and value at all times. It is restorative and regenerative, and ultimately does reduce resource consumption. But it is also a classic economy in the sense that all activities are aimed at generating an economic benefit. The circular economy aims to keep products, components and materials at their highest utility and value at all times. It is restorative and regenerative, and ultimately does reduce resource consumption. But it is also a classic economy in the sense that all activities are aimed at generating an economic benefit

Suggested Citation

  • Elizabeta Stamevska & Aleksandra Stankovska & Vasko Stamevski, 2020. "Principles Of The Circular Economy," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 17(1), pages 99-107.
  • Handle: RePEc:neo:journl:v:17:y:2020:i:1:p:99-107
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    References listed on IDEAS

    as
    1. Raya Madgerova & Vyara Kyurova, 2019. "Specifics Of Entrepreneurship In The Field Of Cultural And Creative Industries," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 7(2), pages 103-123.
    2. Karolin Frankenberger & Tobias Weiblen & Michaela Csik & Oliver Gassmann, 2013. "The 4I-framework of business model innovation: a structured view on process phases and challenges," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 18(3/4), pages 249-273.
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    Cited by:

    1. Arifuzzaman (Arif) Sheikh & Steven J. Simske & Edwin K. P. Chong, 2024. "Evaluating Artificial Intelligence Models for Resource Allocation in Circular Economy Digital Marketplace," Sustainability, MDPI, vol. 16(23), pages 1-39, December.

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    More about this item

    Keywords

    circular economy; principles; sustainability; circular economy model; green economy.;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • Q59 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Other

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