A new concept
The term of circular economy has first appeared in the book entitled "Cradle to Cradle" by Michael Braungart and William McDonough. It mainly talks about Eco-conception and the reuse of materials.
Prior to this, the main model was the linear economy; which is: produce -> use -> destruct.
This new model firstly allows you to reduce your need of natural resources and secondly greatly helps you to save money on your purchases.