Economies Of Scope

Business, Legal & Accounting Glossary

Definition: Economies Of Scope




Full Definition of Economies Of Scope


Economies of scope refer to the ability to produce a multitude of products or product models in a single, flexible facility, cheaper than in various different facilities.

This could be done in part by highly-flexible and versatile programmable automation which would facilitate inexpensive and quick product-to-product changes.

In economies of scope, economies are created by spreading the cost of automation over a variety of products.


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Definition Sources


Definitions for Economies Of Scope are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th March, 2020 | 1 Views.