TUTORIAL 1 UNDERSTANDING CIRCULAR BUSINESS MODELS

What is a circular business model?

• A model that produces as many products as possible

• A model focused on recycling and reusing resources

• A model that ignores environmental concerns

• A model that increases waste

Which of the following describes "slowing the loop"?

• Using fewer materials to make products

• Making products last longer

• Throwing away old products quickly

• Selling products at a higher price

What does "closing the loop" mean in a circular business model?

• Recycling old products into new ones

• Selling products to more customers

• Reducing business costs

• Expanding product variety

What is the main goal of a circular business model?

• To increase waste and reduce costs

• To protect the environment and create value

• To sell as many products as possible

• To ignore environmental concerns

Which of the following is an example of "narrowing the loop"?

• Using fewer materials per product

• Selling products quickly

• Recycling old products into waste

• Offering lower product prices

What does "regeneration" focus on in a circular business model?

• Supporting environmental renewal

• Improving customer relationships

• Selling products at higher prices

• Reducing advertising expenses

Why are circular business models important for companies?

• They focus on earning higher profits only

• They improve brand image and reduce environmental harm

• They increase product sales quickly

• They have no impact on businesses

What is a major challenge when adopting a circular business model?

• Too many customers

• Initial high implementation costs

• Reduced customer loyalty

• Fewer product options

Which of the following describes a benefit of "slowing the loop"?

• Longer-lasting products that reduce waste

• Faster product disposal

• Increased production speed

• Lower product costs

Which business practice supports "closing the loop"?

• Disposing of products after use

• Reusing materials to create new products

• Reducing employee wages

• Increasing production rates