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 specific thermal capacity of both the uncompatibilized and compatibilized blends was evaluated by the photothermic technique in order to verify the influence of the compatibilizer agent in this thermal property.
Geometrical properties of the building used for modeling of dynamics of indoor temperature Areas of construction surfaces of the building, [m.sup.2] Area of external walls 262.8 Area of floor 96.2 Area of partitions 178.6 Area of ceiling 96.2 Area of transparent 59.5 Area of furniture surface 0.5 * fenestrations Area of the roof 130.6 for square unit of the floor, [m.sup.2]/[m.sup.2] * --for the calculation of active thermal capacity of internal surface area of the heated premises, the area of the furniture surface is established according to STR 2.01.09:2005 (2005).
The system (reactor) thermal capacity must be determined, but only once.
If the ETO assembly were larger and more densely populated, this oven might not have the thermal capacity to solder the unit.
The company is preparing for increases in the demand for heat, and the boiler rebuild will increase the plant's thermal capacity with 50%.
Its effectiveness depends on size, conductivity, thermal capacity and the thermal transfer across the molten metal/chill interface.
The fluid absorbs the heat of engagement and dissipates it through the housing, and high thermal capacity virtually eliminates torque fade.
This product will have increased card capacity as well as greatly improved thermal capacity. These features address obstacles the Incumbent Local Exchange Carriers (ILEC's) have faced as they have tried to meet the large demand for DSL lines.
Whisenhunt referred to the 80 percent reduction in [NO.sub.x] emissions, 98 percent in [SO.sub.x] emissions, and the high thermal capacity of COGES when compared to the larger, traditional diesel-electric systems.
In 1986-90 period, 1,840 MW thermal capacity was added at Guddu, Kot Addu and Jamshoro, while in 1991 95 period, another 2,358 MW thermal capacity was put into operation at Faisalabad, Guddu, Kotri, Kot Addu, Jamshoro, Pasni Muzaffargarh and Lakhra (coal fired).
Note that the thermal capacity of the motor must be derated.