Correct Answer: Both assertion and reason are correct, and the reason is the correct explanation of the assertion.

Solution : The correct answer is (a) Both assertion and reason are correct, and the reason is the correct explanation of the assertion.

The assertion is correct in stating that circular economy principles promote sustainable development by minimizing waste generation and maximizing resource efficiency. The circular economy is an economic system that aims to keep resources in a continuous loop, where products are designed for durability, repairability, and recyclability. It emphasizes reducing waste and the extraction of new resources by promoting strategies such as recycling, reuse, remanufacturing, and sharing economies.

The reason correctly explains the aim of the circular economy, which is to keep resources in use for as long as possible. Instead of following the traditional linear "take-make-dispose" model, the circular economy seeks to create closed-loop systems where products and materials are recycled, reused, or repurposed. By doing so, it minimizes waste, reduces resource extraction, and promotes resource efficiency.

Therefore, both the assertion and the reason are correct, and the reason provides the correct explanation for the assertion.