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In economics, total cost (TC) is the minimum financial cost of producing some quantity of output. This is the total economic cost of production and is made up of variable cost, which varies according to the quantity of a good produced and includes inputs such as labor and raw materials, plus fixed cost, which is independent of the quantity of a ...
Appearance. Techno-economic assessment or techno-economic analysis (abbreviated TEA) is a method of analyzing the economic performance of an industrial process, product, or service. The methodology originates from earlier work on combining technical, economic and risk assessments for chemical production processes. [ 1 ]
Capital cost. Capital costs are fixed, one-time expenses incurred on the purchase of land, buildings, construction, and equipment used in the production of goods or in the rendering of services. In other words, it is the total cost needed to bring a project to a commercially operable status. Whether a particular cost is capital or not depend on ...
Cost efficiency is of paramount importance in process chemistry and, consequently, is a focus in the consideration of pilot plant synthetic routes. The drug substance that is manufactured, prior to the formulation, is commonly referred to as the active pharmaceutical ingredient (API) and will be referred to as such herein.
Cost of capital. In economics and accounting, the cost of capital is the cost of a company's funds (both debt and equity), or from an investor's point of view is "the required rate of return on a portfolio company's existing securities". [ 1 ] It is used to evaluate new projects of a company.
In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms optimize their production process by minimizing cost consistent with each possible level of production, and the result is a cost curve. Profit-maximizing firms use cost curves to ...
The simplest definition was introduced by Barry Trost in 1991 and is equal to the ratio between the mass of desired product to the total mass of reactants, expressed as a percentage. The concept of atom economy (AE) and the idea of making it a primary criterion for improvement in chemistry, is a part of the green chemistry movement that was ...
Pinch analysis is a methodology for minimising energy consumption of chemical processes by calculating thermodynamically feasible energy targets (or minimum energy consumption) and achieving them by optimising heat recovery systems, energy supply methods and process operating conditions. It is also known as process integration, heat integration ...