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What is the meaning of scope in economy
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What is the meaning of scope in economy Related: Definition - Meaning...
Economies of scope are economic factors that make the simultaneous manufacturing of different products more cost-effective than manufacturing them on their own. For example, McDonald's can produce both hamburgers and French fries at a lower average expense than what it would cost two separate firms to produce each of the goods separately. This is because McDonald's hamburgers and French fries can share the use of food storage, preparation facilities and so forth during production.
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What is the meaning of scope in economy Related: Definition - Meaning and Scope of Statistics, Statistics for Economics
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What is the meaning of scope in economy Related: Definition - Meaning and Scope of Statistics, Statistics for Economics for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about What is the meaning of scope in economy Related: Definition - Meaning and Scope of Statistics, Statistics for Economics covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the meaning of scope in economy Related: Definition - Meaning and Scope of Statistics, Statistics for Economics.
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