The Evaluation of Circular Economy in the Slovak Republic Based on Selected Indicators
The Evaluation of Circular Economy in the Slovak Republic Based on Selected Indicators

Author(s): Vojtech Kollar, Silvia Matušova
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Evaluation; Circular economy; Indicators; Linear economy; Slovak Republic
Summary/Abstract: At present, we are increasingly aware of the need to move towards a sustainable and ecologically friendly economy. An innovative approach to a sustainable and ecological economy that is gaining in importance is the concept of circular economy. The circular economy is a systemic approach to economic development and a paradigm shift from the traditional concept of the linear economy model “extraction - production - consumption - disposal - depletion”. The circular economy is characterized by zero waste through resource conservation, as a changed concept of production processes design, production process and selected materials for a higher life cycle and preservation of all kinds of resources, material and/or energy recovery during all processes and at the end of the life cycle. The products could be used as an input material in a new production process in a value chain with a closed cycle of materials that improves efficiency resources, and resource productivity, benefits businesses and society, creates job opportunities and ensures environmental sustainability.

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