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Meaning of “economies of scope” in the English Dictionary

"economies of scope" in Business English

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economies of scopenoun [plural]

uk   us   ECONOMICS, PRODUCTION
the ​reduction of ​costs that is the ​result of sharing ​resources, ​processes, and ​skills in ​producing a larger ​range of ​products: Economies of ​scope only ​benefitcompanies who are also ​willing to ​manage the ​risk of ​added complexity.
(Definition of economies of scope from the Cambridge Business English Dictionary © Cambridge University Press)
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