capacity

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Related to heat capacity: Specific heat capacity, Molar heat capacity

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 ?
Heat capacity and glass transition measurements were made between 40 and 200[degrees]C at a heating rate of 2[degrees]C/min, modulation amplitude of 0.
In this case, we calculated the specific heat capacity of the A1 sample according to a calorimetric equation at known absorbed heat [Q.
p,eff] is the effective heat capacity, which is an equivalent "sensible heat" formulation.
Figure 7 shows that the specific heat capacity of the cured resin also increased linearly with temperature in the range of 20-100[degrees]C.
Thermal Capacity/Specific Heat--The thermal or heat capacity of the filter refers to the quantity of the heat it absorbs from the molten metal before the filter reaches the same temperature as the metal.
Equation 4c indicates that the minimum rate of heating also varies directly with the heat load, but unlike the maximum rate, it decreases with the total heat capacity of the system, which is the sum of the room and rack mass heat capacities.
Heat transport modeling requires measurement of the thermophysical properties of the cellular polymer, including heat capacity, thermal conductivity, heat of reaction, and reaction kinetics.
2007) address the dependence of heat transfer effectiveness on the number of heat transfer units, the heat capacity ratio and the flow pattern.
Says Blasius, "By evaluating all the parameters that affect the flow, cooling, and warping behavior--such as melt viscosity, glass-transition temperature, heat capacity, and thermal diffusivity--a more accurate analysis can be run, compared with running the analysis based on natural-resin parameters.
Its high heat capacity and rate of heat exchange means it can be used for short cycle curing and where space is limited.
The amount of heat required to raise the temperature of the refractory depends on the heat capacity of the refractory and the efficiency of the heating process.
The variation of the heat capacity is minimal for most amorphous polymers and shows only a slight drop when the temperature falls below Tg.