A "Closed Loop" system refers to a process where the output is fed back into the system as input, creating a self-regulating cycle. This feedback mechanism allows for continuous improvement and adjustment, ensuring that the system operates efficiently. Closed loop systems are commonly used in various fields, including engineering, biology, and economics. In engineering, for example, a closed loop control system can maintain desired performance levels by adjusting parameters based on real-time data. This is often seen in devices like thermostats or automated manufacturing systems, where the system monitors its output and makes necessary changes to achieve optimal results.