Construct · 1 fields · 1 citations

spare: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
spare1 CONSTRUCTSpare capacitySLOMAN · SLACK CAPACITY

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Economics

Unused productive capacity in a firm or economy

In economics spare capacity is the margin between what a firm or an economy is actually producing and what it could produce if its resources were fully used, so a business with spare capacity can raise output without new investment and a slack economy can grow without stoking inflation. Sloman's Economics sets this out through capacity utilisation at the level of the firm and the output gap at the level of the whole economy. The referent is a continuous measure of unused potential rather than a countable reserve item, sharing the reliability engineer's word for held-back capacity but measuring slack, not spare parts.[1]

Unit
The gap between actual output and full-capacity output
Recovery means
Not applicable
Measured by
Gauged by capacity-utilisation rates and the output gap between actual and potential output

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Nearby constructs

redundancy4 fields · 5 citationsjingle · one word, four constructsreserve4 fields · 4 citationsjingle · one word, four constructsavailability2 fields · 2 citationsjingle · one word, two constructs

References

  1. Sloman, J. (2000). Economics. Financial Times Prentice Hall. ISBN 9780130166050

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