Definition of Circular Economy

ˈsəːkjʊlə | ɪˈkɒnəmi

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1: The circular economy is based on three principles, driven by design:

• Eliminate waste and pollution

• Circulate products and materials (at their highest value)

• Regenerate nature

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2: an economic system based on using renewable resources, eliminating waste, and reusing and recycling material goods 

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3: a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible.

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4: an economy that reuses and recycles resources to keep them in play for as long as possible.

Eg. One of the tenets of the circular economy is the idea that closing material and product loops will prevent primary production.​

 

Comparative antonym

Linear Economy: an economic system based on collecting raw materials, using them to create consumer goods, and disposing of resulting waste products.

 

I might point out that 'Circular Economy' was not found in Australia's Macquarie Dictionary.