capacity

(redirected from Functional Capacity)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia.

Capacity

Credit grantors' measurement of a person's ability to repay loans.

Capacity

The theoretical maximum number of products a company can produce at a given time. For example, an oil pump may have a capacity of X barrels per day, meaning that it cannot produce more than X. Companies rarely operate at full capacity, both to allow themselves leeway in the event of increased demand and because capacity may not be possible at a given time because of worker illness, machinery maintenance, or other reasons.

capacity

the maximum amount of output that a firm is physically capable of producing, at a point in time, given the fullest and most efficient use of its existing plant or plants.

Over time, a firm may adjust its capacity to meet changes in demand and the competitive situation facing it, investing in new plant or extending existing plant to meet an increase in demand, or closing down plant, permanently or temporarily (‘MOTHBALLING’), to meet a situation of OVERCAPACITY.

When preparing a PRODUCTION BUDGET, it is necessary to ensure that the firm has sufficient production capacity to meet planned output levels. A firm's capacity or the capacity of industry in general may be limited by the availability of capital equipment and labour.

The maximum rate of output which the firm can produce will depend upon the capacity of its individual factories which in turn depends upon the capacity of various departments and work stations within each factory See INPUT-OUTPUT CONTROL, PRODUCTION SCHEDULING, PRODUCTION-LINE BALANCING. See CAPACITY UTILIZATION, LIMITING FACTOR, RATIONALIZATION, INDIVISIBILITIES, CAPACITY CONSTRAINED RESOURCE, CAPACITY CONTROL, CAPACITY CUSHION, CAPACITY PLANNING, CAPACITY REQUIREMENTS PLANNING.

capacity

  1. 1the maximum amount of output that a firm or industry is physically capable of producing given the fullest and most efficient use of its existing plant. In microeconomic theory, the concept of full capacity is specifically related to the cost structures of firms and industries. Industry output is maximized (i.e. full capacity is attained) when all firms produce at the minimum point on their long-run average total cost curves (see PERFECT COMPETITION). If firms fail to produce at this point, then the result is EXCESS CAPACITY.
  2. in macroeconomics, capacity refers to POTENTIAL GROSS NATIONAL PRODUCT. The percentage relationship of actual output in the economy to capacity (i.e. potential national income) shows capacity utilization. See also MONOPOLISTIC COMPETITION.

capacity

The legal ability of parties to enter into contracts.
• Full capacity. Having unlimited ability to enter into binding contracts of all types.
• Limited capacity. Having the ability to enter into binding contracts for certain things, such as a minor's contracts for necessities, but also having the ability to disaffirm other contracts upon reaching legal age, for example.
• No capacity. Having no ability to enter into contracts, such as one who has been adjudicat- ed as mentally incompetent.

References in periodicals archive ?
Significant gains in functional capacity were well above the minimum (15 to 20 metres).
Functional capacity evaluations have been criticized due to the lack of standardization in terminology, test length, evaluator qualifications, report format, and determination of material handling and problems with predictive validity of FCE for outcomes (Streibelt, Blume, Thren, Reneman, & Mueller-Fahmow, 2009).
In this study, effects of 21 and 23 mm bileaflet mechanical prosthesis on hemodynamic performance and functional capacity improvement in young patient group, where alternative prosthesis were not used, were investigated.
In case of functional capacity assessment, most reports concern long-term period after the operation (longterm outcome), for example, 3, 6, and 12 months or even several years after surgery (Al-Khindi, Macdonald, & Schweizer, 2010; Frazer, Ahuja, Wattdns, & Cipolotti, 2007; Hackett, & Anderson, 2000; Koivisto et al.
Short-term effects of aerobic exercise on functional capacity, fatigue, and quality of life in patients with post-polio syndrome.
The significant improvements achieved cinebalneoterapia on pain perception and functional capacity of patients with osteoarthritis of the knee, forming an effective alternative in the symptomatic management of the disease
Early clinical data suggest that usage is associated with significant reduction in FMR, and significant improvement in functional capacity and quality of life.
MV02 is a key measure for functional capacity and we are seeing a real signal that this treatment is impacting patients' lives in this randomized blinded study.
Also, statistically significant increases were observed in the WOMAC functional capacity index and the FSPES for both groups (p<0.
Guide to the evaluation of functional ability; how to request, interpret, and apply functional capacity evaluations.

Full browser ?