Final answer:
Biomimicry is the concept that focuses on emulating nature's patterns and strategies in product, process, and systems design. The key principles of Natural Capitalism include radical resource productivity, investing in natural capital, and solution-based business models.
Step-by-step explanation:
The concept that can best be described as a circular economy approach focused on emulating nature's patterns and strategies in product, process, and systems design is Biomimicry.
The key principles of Natural Capitalism are:
- 1. Radical Resource Productivity: This principle emphasizes the importance of maximizing resource efficiency and reducing waste.
- 2. Investing in Natural Capital: This principle promotes the preservation and restoration of natural resources and ecosystems.
- 3. Solution-based Business Models: This principle encourages the development of business models that provide solutions to environmental and social challenges.