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The book "Understanding Circular Economy”, provides a comprehensive overview of the concept and application of circular economy and its importance in achieving sustainability, making it an ideal resource for students, policymakers, and practitioners. The book is structured into five chapters, each of which delves into a critical aspect of the circular economy. Chapter one provides an overview of the linear economy and its limitations, highlighting the problems associated with the traditional "take-make-dispose" approach. Chapter two introduces the concept of circular economy as an alternative to the linear economy, explaining the principles of closed-loop systems, resource efficiency, and waste reduction. Chapter three focuses on Life Cycle Assessment (LCA) as a tool for evaluating the environmental impacts of products and services throughout their life cycle. The chapter discusses the importance of LCA in the transition towards a circular economy and explores its applications in different sectors. Chapter four explores Extended Producer Responsibility (EPR) as a critical policy tool in promoting sustainable resource management. The chapter mentions the legal and regulatory frameworks governing EPR and its role in incentivizing producers to design products that are easier to recycle and recover. Finally, chapter five explores the role of Industry 4.0 and organizational mindset in the transition towards a circular economy. The chapter examines the technological and organizational innovations necessary to create closed-loop systems and highlights the importance of collaboration and stakeholder engagement in achieving a sustainable future.