Transformations  in
Business & Economics

ENSURING SUSTAINABLE CONSUMPTION BEHAVIOURS IN CIRCULAR ECONOMY ENGAGEMENT
Viktor Koval, Inesa Mikhno, Rima Tamosiuniene, Halyna Kryshtal, Yevheniia Kovalenko-Marchenkova, Huazhi Gui

ABSTRACT: The establishment of the circular economy contributes to the development of sustainable consumption and creates new consumer habits, changes the market of goods and promotes innovations and ecological principles in the daily life of the population. The increasing consumption of eco-friendly goods is closely related to the environmental responsibility of the individual, which is formed over time and affects the results of social production and the technological level of production. The article examines the problem of adjusting public demand that would increase the rate of adoption of the circular economy, analyses factors affecting public demand and determines the price of changing public targets for different groups of the population. The mathematical function of public utility in the introduction of the circular economy changes the determining factors of consumer satisfaction, tending to reduce risks to the ecosystem and the health of consumers. It is concluded that when carrying out certain educational activities, 22% of surveyed consumers on average are ready to change their preferences in favour of eco-friendly goods. If a systematic approach is used and the market for environmentally friendly products is balanced, the main hazardous environmental products and their alternatives that can adjust public demand and change consumer habits are analysed.

KEYWORDS:  green economy, consumption, circular economy consumers, consumption economy.

JEL classification:  D10, E21, Q57.