Economies Of Scope

Business, Legal & Accounting Glossary

  1. Home
  2. Glossary
  3. Define: Economies Of Scope

Definition: Economies Of Scope

Economies Of Scope
Cite Term
Sources

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.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/economies-of-scope/
Modern Language Association (MLA):
Economies Of Scope. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
May 18, 2024 https://payrollheaven.com/define/economies-of-scope/.
Chicago Manual of Style (CMS):
Economies Of Scope. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/economies-of-scope/ (accessed: May 18, 2024).
American Psychological Association (APA):
Economies Of Scope. PayrollHeaven.com. Retrieved May 18, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/economies-of-scope/

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 | 0 Views.