Economy - Ygraph

The circular economy concept

See the below image for the The circular economy concept diagram. It is a resilient system that is good for business, people and the environment. The circular economy is a systems solution framework that tackles global challenges like climate change, biodiversity loss, waste, and pollution.

Furthermore, the C2C principles have been key contributors to the definition of the concept o f circular economy as advocated by Ellen MacArthur Foundation. As a matter of diagram of CE developed by EMF. In addition, the reliance on renewable energies and t he promotion of diversity are often cited as key principles of CE.

The fundamental need for an alternative to the traditional linear model of growth has led to the emerging debate about circular economy (CE), described as an economy with closed material loops.

Procurement in the circular economy

See the below image for the Procurement in the circular economy diagram. Through knowledge exchange and collaboration CircularProcurement.ca is a leading showcase of insight and experience to put circular economy concepts into action. We recognize the power of buying to shift markets and offer products and services to advance broader environmental and social goals.

Creating a circular economy — one that eliminates waste and pollution, keeps products and materials in use, and regenerates natural systems — will be crucial to realizing our net-zero goal. Changing how we buy and what we buy is critical for Canada’s transition to a circular economy.

Transitioning to a circular economy unlocks a $4.5 trillion economic opportunity for Canada. Governments across Canada spend $200 billion annually on goods and services, which equates to 15% of Canada’s Gross Domestic Product (GDP): 80% or $160 billion is spent by municipalities.

Centrally planned economy

See the below image for the Centrally planned economy diagram. The government of a centrally planned economy decides where and when production and investment will be directed.

What is a ‘Centrally Planned Economy’. Unlike a market economy — in which private citizens and business owners make production decisions — a centrally planned economy controls what is produced and the distribution and use of resources. State-owned enterprises undertake the production of goods and services.

Central planning is also referred to as a ‘Command economy’ or ‘Communist economy.’ WIth Central planning, the theory is that the government will take ownership of the means of production and run the economy in the interest of workers.

Circular flow diagram of economy

See the below image for the Circular flow of economy diagram. Circular Flow Model of Economy. Circular flow model is the basic economic model and it describes the flow of money and products throughout the economy in a very simplified manner.

The most common form of this model shows the circular flow of income between the household sector and the business sector. Between the two are the product market and the resource market. Households purchase goods and services, which businesses provide through the product market.

They are actively engaged in three economic activities of production, consumption and exchange of goods and services. These decision-makers act and react in such a manner that all economic activities move in a circular flow. First, we discuss their nature and role in decision-making. Households are consumers.

US states economy comparison

See the below image for the US states economy comparison diagram. For example: America’s largest state economy is California, which produced nearly $3 trillion of economic output in 2018, more than the United Kingdom’s GDP last year of $2.8 trillion. Consider this: California has a labor force of 19.6 million compared to the labor force in the UK of 34 million ( World Bank data here ).

The first map shows seven areas of the US that have the same GDP as entire countries. It shows that California has the same size economy as France. Both have nearly $2.54 trillion in output.

The economy of the north-east states – Massachusetts and Pennsylvania up to Maine and including New York – amounts to $4.2 trillion, similar to Japan’s at $4.12 trillion. Florida and Alabama, with $1.087 trillion in GDP, almost match Mexico at $1.14 trillion, while Texas’s economy, $1.59 trillion, is close to that of Brazil at $1.74 trillion.

USA GDP PPP

USA economy size measured in Power Purchasing Parity, i.e. comparing relative standard of living and ability to afford goods and services. USA’s Gross Domestic Product (GDP) chart showing historical economic growth as measured in PPP international dollars.

USA: The United States has the worlds second-highest GDP based on PPP (after China), underscoring its immense economic output across virtually every sector, from technology and finance to manufacturing and energy. In terms of GDP PPP per capita, the U.S. ranks very high, reflecting widespread individual consumption, innovation, and a robust labor market. The American economy benefits from strong productivity, deep capital markets, and a large, affluent population. However, disparities in income, healthcare access, and regional development persist, even as the U.S. remains a global leader in overall and per capita economic power.

South Korea GDP PPP

South Korea economy size measured in Power Purchasing Parity, i.e. comparing relative standard of living and ability to afford goods and services. South Korea’s Gross Domestic Product (GDP) chart showing historical economic growth as measured in PPP international dollars.

South Korea: South Koreas GDP PPP reflects its transformation into a highly industrialized and export-oriented economy, known for leading global brands in electronics, automotive, and shipbuilding. Overall GDP PPP is substantial, supported by technological innovation and strong infrastructure. Per capita GDP PPP is also high, underlining South Koreas elevated standard of living, widespread digital connectivity, and strong education system. Despite its success, the economy faces headwinds from low birth rates and intense competition in global markets, but remains one of Asias most advanced and efficient economies by PPP measures.

Spain GDP PPP

Spain economy size measured in Power Purchasing Parity, i.e. comparing relative standard of living and ability to afford goods and services. Spain’s Gross Domestic Product (GDP) chart showing historical economic growth as measured in PPP international dollars.

Spain: Spain has a sizable GDP PPP, consistent with its status as one of the larger economies in the Eurozone. The countrys economy is fueled by tourism, manufacturing, and services, with growing strength in renewables and tech sectors. Per capita GDP PPP is relatively high, though still below the EUs top economies, reflecting the lingering effects of past financial crises and a still-elevated unemployment rate in some regions. Nonetheless, Spain maintains a strong social welfare system, modern infrastructure, and a resilient middle class, which contribute to a solid per capita standing in PPP terms.

Turkey GDP PPP

Turkey economy size measured in Power Purchasing Parity, i.e. comparing relative standard of living and ability to afford goods and services. Turkey’s Gross Domestic Product (GDP) chart showing historical economic growth as measured in PPP international dollars.

Turkey: Turkeys GDP PPP is significant, placing it among the largest emerging markets due to its large population and diversified economy that includes manufacturing, agriculture, and services. The PPP adjustment emphasizes Turkeys large domestic market and relatively lower costs, boosting its global GDP ranking. However, GDP PPP per capita is in the middle range, reflecting the countrys ongoing battle with inflation, currency volatility, and income disparity. Despite economic challenges, Turkey remains a dynamic player between Europe and Asia, with strategic importance and a growing industrial base.

France GDP PPP

France economy size measured in Power Purchasing Parity, i.e. comparing relative standard of living and ability to afford goods and services. France’s Gross Domestic Product (GDP) chart showing historical economic growth as measured in PPP international dollars.

France: Frances GDP PPP reflects the strength of one of the largest economies in Europe, driven by a diverse industrial base, robust public services, and global cultural influence. The country ranks high in overall PPP-adjusted GDP, benefiting from strong exports in aerospace, luxury goods, and agriculture. Its per capita GDP PPP is also high, indicating a well-distributed economic output and a generally affluent population. France combines a tradition of state intervention with market dynamics, and its standard of living remains among the highest in the EU, despite occasional structural and labor market challenges.