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 ?
Vital capacity rapid inahalational induction technique comparison of sevoflurane and halothane.
3 According to the standards, a patient must make a minimum of -- acceptable forced vital capacity maneuvers.
Forced vital capacity and forced expiratory volume among the coal miners were found to be jointly affected by age, work place, past history of underground mine, smoking habit and length of service.
BMI: Body mass index, FVC: Forced vital capacity, FEV1: Forced expiratory volume at the end of 1 second, FEV1/FVC ratio of forced expiratory volume at the end of 1 second and forced vital capacity, PEFR: Peak expiratory flow rate Table 2: Correlation of BMI with pulmonary function parameters in male participants Parameters Male BMI<25 BMI>25 R P R P FVC 0.
Along with delivering improved picture and sound for customers currently receiving analog signals, the move to all-digital frees up vital capacity in TWCs network to offer faster Internet speeds and additional On Demand content.
Tidal volume (TV), Minute Ventilation (MV), Forced Vital capacity (FVC) and Forced Expiratory Volume at the end of 1st second([FEV.
Secondary endpoints will measure a change in the amyotrophic lateral sclerosis (ALS) Functional Rating Scale (ALSFRS) and a change in Slow Vital Capacity (SVC) slopes.
o reach the conclusion, researchers analysed health information of more than 120,000 people from the Paris Investigations Preventives et Cliniques Center, and assessed demographic background, smoking history, alcohol consumption, as well as lung function, including FEV1 (forced expiratory volume in one second) and FVC (forced vital capacity, or the total expiratory volume) with respect to BMI, waist circumference and other measures of metabolic health.
BALTIMORE--Two measures of lung function--a higher forced expiratory volume in 1 second/forced vital capacity ratio and lower total lung capacity--may predict the presence of obstructive sleep apnea in chronic pulmonary disease patients, although the severity of chronic obstructive pulmonary disease is not associated with the severity of obstructive sleep apnea, based on findings from a study of 457 adults.
BALTIMORE -- Two measures of lung function--a higher forced expiratory volume in 1 second/forced vital capacity ratio and lower total lung capacity--may predict the presence of obstructive sleep apnea in chronic pulmonary disease patients, according to a poster presented at the annual meeting of the Associated Professional Sleep Societies
The interpretative approach taken by the ATS1 states that a low vital capacity, when there is no airway obstruction, allows one to infer the presence of a "restrictive ventilatory defect" (reduced TLC).
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.