capacity

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Capacity

Credit grantors' measurement of a person's ability to repay loans.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Reduced alveolar-capillary membrane diffusing capacity in chronic heart failure.
Pulmonary function tests were measured as Forced Vital Capacity (FVC): 72% Forced expiratory volume in 1 second (FEV1): 75% FEV1/FVC: 108% DLCO 50% DLCO/VA (diffusing capacity of the lung for carbon monoxide/alveolar volume) 58%.
Variables (n) (mean [+ or -] SD) Age, year (n = 25) 67.5 ([+ or -]8.3) Gender (M/F) 17/8 Ex-smoker (n) % 13 (52%) Non smoker (n) % 11 (44%) Smoker (n) % 1 (4%) PY (mean [+ or -] SD) 25.4 ([+ or -]34.2) FEV1% (n = 25) 80.4 [+ or -] 18.8 FVC% (n = 25) 77.5 [+ or -] 21.8 FEV1%/FVC (n = 25) 82 [+ or -] TLC% (n = 23) 61.4 [+ or -] 13.7 DLCO% (n = 23) 45.6 [+ or -] 13.2 Comorbid disease (n = 25) Arterial hypertension 10 (40%) Coronary disease 4 (16%) Diabetes mellitus 3 (12%) Gastroesophageal reflux symptoms 5 (20%) M/F: male/female, PY: pack/years, FEVi: forced expiratory volume at one second, FVC: forced vital capacity, TLC: total lung capacity, and DLCO: diffusing capacity for carbon monoxide.
(1966) Pulmonary membrane diffusing capacity and pulmonary capillary blood volume.
Patients with cancer had a relatively reduced diffusing capacity of the lung for carbon monoxide, reduced skeletal muscle strength, and lower ventilatory thresholds during exercise compared with HC (P < 0.05).
Vital capacity and diffusing capacity for carbon monoxide (D[L.sub.co]) are useful parameters to monitor the response of ILD patients to therapy (6).
These include a wider array of pulmonary function tests (full lung volumes, diffusing capacity), measurement of bronchial reactivity, computed tomography scans, and--in appropriate patients--bronchoalveolar lavage and lung biopsies, which would truly elucidate the respiratory disorders following WTC exposure.
Outcome Measures: Vital lung capacity and single-breath carbon monoxide diffusing capacity (DL[.sub.co]).
The exclusion criteria were pregnancy; symptoms of heart failure, including class III or IV dyspnea (New York Heart Association); venous distension and recent major lower limb edema; pulmonary arterial hypertension (systolic arterial pressure >40 mmHg and/or mean artery pressure >25 mmHg, determined by echocardiography); severe pulmonary involvement (forced vital capacity or carbon monoxide diffusing capacity <50% of the predicted normal value); renal involvement (creatinine concentration > 106 [micro]mol/L); or severe disease complications such as cancer or gangrene.
"Following termination of avian exposure, there was a substantial incrementation in lung volume and, at this moment in time, it would appear that there has been a marginal degree of improvement in diffusing capacity" (34 words).
In-hospital evaluation included a chest X-ray, which showed bilateral interstitial infiltrates, a high resolution computed tomography scan consistent with alveolitis, normal spirometry with a decreased diffusing capacity for carbon monoxide, and nonspecific transbronchial biopsy findings.
In addition, no patient had a diffusing capacity of the lung for CO (Dco) of more than 60% predicted.