Glossary of Terms
- Break-even analysis: An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue
- Break-even point: a point where profit is zero because total revenue equal total cost.
- Fixed cost: a cost of production that does not change regardless of how much is produced. An example would be capital costs.
- Optimal point of production: is the point where profit is maximized.
- Price: the amount at which a producer will sell each product.
- Profit: total revenue minus total cost.
- Sensitivity analysis: technique used to determine how different values of an independent variable impact a particular dependent variable under a given set of assumptions.
- Total cost: fixes costs plus variable costs.
- Total revenue: price per product multiplied by the total number of products.
- Variable cost: a cost that varies with production. For example, labour. The more people hired, the higher the total wage bill.
Sayers, M. & Levey, S. (2013 January 18). Wind in the willows boosts biofuel production. Imperial College London News. Retrieved from: http://www3.imperial.ac.uk/newsandeventspggrp/imperialcollege/newssummary/news_18-1-2013-11-15-44
Fore more on willow used for biomass and photoremediation, check out this article:
Dimitriou, I. & Aronsson, P (2005). Willows for energy and phytoremediation in Sweden I. Unasylva 221(56): 47-50. Retrieved from: http://agroenergie.ca/pdf/Applications_commerciales/Willows_%20Energy_Phytoremediation_Sweden.pdf
Labrecque, M. (2016). GENOREM: Investigating how willows and their associated microbes decontaminate soils. Reproduced by Poplar and Willow Council of Canada. Retrieved from: http://www.poplar.ca/article/genorem-how-willows-decontaminate-soils-176.asp