A circular economy (often referred to simply as "circularity") is an economic system aimed at minimizing waste and making the most of resources. In a circular system resource input and waste, emission, and energy leakage are minimized by slowing, closing, and narrowing energy and material loops; this can be achieved through long-lasting design, maintenance, repair, reuse, remanufacturing, refurbishing, and recycling. This regenerative approach is in contrast to the traditional linear economy, which has a 'take, make, dispose' model of production.

Source: Wikipedia