Economies of scope

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Notion

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Science and technology

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What Wikipedia says

Economies of scope are "efficiencies formed by variety, not volume" (the latter concept is "economies of scale"). In the field of economics, "economies" is synonymous with cost savings and "scope" is synonymous with broadening production/services through diversified products.

Excerpt from the Wikipedia article “Economies of scope”, under the CC BY-SA 4.0 license. Read the article on Wikipedia