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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 ?
There are 12 reservoirs under CWC monitoring having total live storage capacity of 42.
On rising oil storage capacity and transferring crude capacity under the fifth five year development plan," Mousavi noted current Kharg oil terminal's storage capacity stands at 22 million barrels of oil adding the capacity will rise to 28 million barrels of oil by building four new oil storage facilities.
The storage capacity of magnetic storage media has tended to match, if not exceed, that of optical media, although DVD technology offers a significant increase of storage capacity in a small physical form (i.
Adding storage capacity is similar to adding servers.
Until now, companies with storage environments from different vendors attached in different configurations have had no simple way to get an overview of all the storage capacity they have available.
InfiniView users can configure the product to support true CDP for optimal recovery granularity, near CDP to save on storage use while still providing significantly more recovery points than conventional technologies or both modes simultaneously - such as true CDP for the first several days after data is initially created, but as data ages allowing it to move to near CDP to take advantage of storage capacity savings.
097 BCM, which is 70% of total storage capacity of these reservoirs.
As growth outpaced the extensibility (up until Fall 2003 most modular storage systems had a maximum raw storage capacity of 35TB) of these modular systems, users were forced to upgrade to a more powerful models or added additional systems.
Advanced Digital Information Corporation (Nasdaq:ADIC) will more than double the storage capacity and throughput of its DLT storage libraries by integrating Quantum Corporation's (NYSE:DSS) Super DLTtape technology into the current ADIC(R) DLTtape product family.
New built-in Network Attached Storage (NAS) capabilities have been added to RevOS, which allow users to quickly and easily add storage capacity for RAID-protected file sharing.
034 BCM, which is 72% of total storage capacity of these reservoirs.