Short answers, pulled from the story.
Acetone is an organic compound and the simplest, smallest ketone, a colorless, highly volatile, flammable liquid with a pungent odor. About a third of the world's acetone is used as a solvent, with major roles in producing methyl methacrylate and bisphenol A, precursors to widely used plastics.
Chaim Weizmann developed the biochemical process for industrial acetone production during World War I, known as the Weizmann Process. It used acetone-butanol-ethanol fermentation with Clostridium acetobutylicum bacteria to help the British war effort prepare Cordite, and Weizmann later became the first president of Israel.
Acetone is a main ingredient in many nail polish removers because it breaks down nail polish. It is used for all types of removal, including gel nail polish, dip powder, and acrylic nails.
Yes, acetone is produced and disposed of in the human body through normal metabolic processes, and small quantities are present naturally in blood and urine. Humans exhale several milligrams of acetone per day, and people with diabetic ketoacidosis produce it in larger amounts.
Approximately 83% of acetone is produced via the cumene process, in which benzene is alkylated with propylene to make cumene, which is then oxidized by air to produce acetone and phenol. This ties acetone production directly to phenol production.
Acetone is believed to exhibit only slight toxicity in normal use and is generally recognized to have low acute and chronic toxicity if ingested or inhaled. Its most hazardous property is extreme flammability, and it is an irritant causing mild skin and moderate-to-severe eye irritation.