What is a circular economy?

Circular economy is a type of system that makes use of resources in a close-looped. Basically, they make use of resources with the aims to limit the production of waste by using the resources up to its utmost limit and refurbishing it, recycling it, or reusing it again.

This is akin to how biological systems work where as materials are recycled through the different systems and the products are repurposed for another process, so on and so forth.