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 ?
Side by side Wapda operating in rest of the country, Karachi Electric Supply Corporation (KESC) looking after Karachi metropolis, having 56 MW thermal capacity in 1960 had increased it to 493 MW by 1977.
8GW of thermal capacity, located predominately in the Urals region.
Because both the thermal mass and the thermal capacity of the ground surrounding a borehole field are very large, the changes in ground temperatures are very slow.
Further it is necessary to know also the heat of reaction [DELTA]Hr, system thermal capacity C and the temperature tangent direction dT/dt.
In order to study the behavior of heat transfer in fluids, it is necessary to measure some properties such as thermal conductivity, viscosity, density, and thermal capacity of the fluid, in addition to synthesize various nanofluids," Emami said"Moreover, it is necessary to determine different heat transfer factors including convectional heat transfer factor in constant temperature of the tube or the constant thermal flux.
Possibilities for control of the thermal capacity of air-coils
It has high thermal capacity and so can remove a lot of heat.
The new power plant will produce electricity, steam for the paper mill and district heat for the city of Rauma, with a thermal capacity of 107 MW, burning bark, forest residue, peat, sludge and small amount of recycled fuel.
Stephen George, works manager at Corus Strip Products UK, added, 'The major enhancements have focused on increasing the thermal capacity of the line in order to heat the strip to required temperatures at an increased line speed, therefore allowing us to process more material.
Carbon-Alumina Composite Foam Filters The most recent innovation in steel filtration are low thermal capacity carbon-bonded alumina composite foam filters (Fig.
It is therefore expected that during FY '95, additional thermal capacity of 1,544 MW and hydel capacity of 100 MW shall be injected in the Wapda's system, and 453 MW thermal capacity would be added during FY '96.