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 ?
The results are consistent with finding of Scottish cross-sectional survey of men and women aged 25-64 yrs., by Chen et al where WC was inversely associated with FVC and FEV1 in both men and women.
Hampshire (1-8, 1-7) and Dundee-Crown (1-8, 0-8) finished eighth and ninth in the FVC last season, respectively, but each has reason for optimism.
transformation space, FVC is an important business partner in the region and
In hypertensive patients (cases), the observed values of FVC, FEV1, and PEFR were significantly lower (p<0.05) than the predicted values.
Furthermore, ARGPI will have a call option on the 5 % interest in Telistar exercisable at any time between 1 July 2019 to 30 September 2019, with the call option price payable by the return of the CLNs to FVC.
The mean predicted values and LLNs calculated using the GLI equations were significantly (p < 0.01) different from those produced using the Gore equations, excluding mean predicted [FEV.sub.1]/ FVC (Table 1).
According to the revised El Escorial criteria, 52 patients were diagnosed with definite ALS and the remaining with probable ALS.[sup][6] ALSFRS-R, FVC, and EMG were simultaneously assessed.
Fifty percent had an improvement in the slope of the ALSFRS score, and 67 percent had an improvement in the slope of the percent-predicted FVC.
According to FVC officials, consumers and businesses purchasing agricultural products will see the logo at the point-of-purchase and on business signage, enabling them to select products that support farmer veterans.
Dynamic lung volumes included FVC, FEV1, FEV1 / FVC ratio and FEF25-75.
Lung function typically is measured as forced vital capacity (FVC).
However, normal lung volumes may differ significantly between different ethnic populations and subpopulations who may have higher pulmonary function tests (PFTs) volumes including forced vital capacity (FVC) and forced expiratory volume in one second (FEVX) than average population independently from predicted body weight.