capacity

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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 ?
Patients were eligible for the studies if they had a diagnosis of pulmonary fibrosis confirmed by CT scan or by biopsy and if they had a forced vital capacity (FVC) that was 50% of predicted value or greater and a diffusing capacity of the lung for carbon monoxide that was 35% of predicted value or greater.
The lung function measurements used were maximal mid expiratory flow rate (MMEF), forced vital capacity (FVC) and forced expiratory volume in one second (FEV1).
Advanced disease is defined by a standard measure of forced vital capacity of less then 40 percent of predicted (FVC less than 40%).
The present study shows that among runners and sedentary controls, competitive runners have significantly higher values of forced vital capacity (FVC) (P=0.
The recommendation is based on results of a placebo-controlled study of 320 patients that examined safety and efficacy of Pulmozyme during a twelve-week period in cystic fibrosis patients with advanced lung disease defined by the standard measure of forced vital capacity less than 40% of predicted (FVC less than 40%).
Because it requires less patient cooperation than does spirometry--the patient simply breathes normally through a mouthpiece for 15-30 seconds--it appears to be a more accurate measure of lung function in young children who can't manage the forced vital capacity maneuver required for standard spirometry, said Dr.
Pretreatment values of forced vital capacity varied between 82-98%, 82-101%, 84-102% and 84-103% before giving budesonide by nebulizer (week-2), metered dose inhaler (week-3), metered dose inhaler with spacer (week-4) and dry powder inhaler (week-5) respectively.
Airflow obstruction indicative of COPD, defined as forced expiratory volume in 1 second divided by forced vital capacity (FEV]/FVC) of 70% or less following bronchodilator (albuterol) treatment, occurred in 26% of the patients.
The following parameters were recorded: Respiratory rate (RR), Tidal volume (TV), Forced vital capacity (FVC), Forced expiratory volume in 1 sec (FEV1), FEV1/FVC ratio, Peak expiratory flow (PEF), Forced expiratory flow at 25-75% of volume as a percentage of VC (FEF 2575), Vital capacity (VC).
The prevalence of COPD in this large unselected cohort of heart failure patients was 31%, based upon the widely utilized Gold criterion of a ratio of postdilatory forced expiratory volume in 1 second divided by forced vital capacity ([FEV.
Lung Volumes: Forced vital capacity [FVC], Forced expiratory volume at 0.
1] and forced vital capacity (FVC) either before or after bronchodilation from day 30 to the end of study, lead study author Dr.