Abstract
Economic Research of Agricultural Activities in Georgia, based on the experience of developed countries, it has become apparent that the key to comprehensive management of economic efficiency is the transition to a circular economy, which implies the creation of an alternative model to the traditional linear economy. In the proposed model, agricultural products will have maximum use in terms of yield, and the remaining agricultural products, given the value of each production cycle, are given the opportunity for new consumption after processing. The purpose of this paper is to present a new model of effective economic management of agricultural production based on the principles of circular economy.
Highlights
IntroductionThe widespread application of modern technological advancements in the process of forming the market economic relations requires a completely new approach to the theoretical and practical issues of increasing the economic efficiency of agricultural activities
The widespread application of modern technological advancements in the process of forming the market economic relations requires a completely new approach to the theoretical and practical issues of increasing the economic efficiency of agricultural activities.The circular approach and the sustainability of the agro-food system are important steps to designing green growth strategies
Presented business model of the circular economy based on proposed agricultural production in the field of agriculture better regulates factors that encourage resource efficiency: longterm agreements for private financial initiatives; new design and specifications; producing products with a longer life span; long-term infrastructure; the application of refrigeration technologies and prolongation of product life-time encourages production, reduces overall costs and resource consumption; the calculation on product reuse, flexible, adjustable and reusable products / agroecological infrastructure; the calculation on the recovery of the product is conditioned by the circumstances that its recycling should be done optimally after consumption; agricultural production working on a profitable economically efficient management system; resource efficiency, critical assessment of the current state in order to reduce costs and resources / energy / water consumption
Summary
The widespread application of modern technological advancements in the process of forming the market economic relations requires a completely new approach to the theoretical and practical issues of increasing the economic efficiency of agricultural activities. The circular approach and the sustainability of the agro-food system are important steps to designing green growth strategies. Researchers and representatives from the agro-food sector should explore the potential contribution of circular approaches to sustainable production and productivity growth in the agro-food system
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