Translation of economies (English-English)

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economies: advantages arising out of commonality and synergy between different products or services
Category: Economics

economies: Economies of scale occur when firms achieve per unit cost savings by producing more of a good or service (i.e. when average costs decrease as output increases). Such effects arise when it is possible to spread fixed costs over a higher output. Examples of scale economies are the bigger lorry that transports more while still requiring only one driver or the larger plant that does not require more spare parts to be kept in stock than the smaller plant.
Category: The European Communities

economies: Economies of scope occur when firms achieve cost savings by increasing the variety of goods and services that they produce (joint production). Such effects arise when it is possible to share components and to use the same facilities and personnel to produce several products. For example, a bank may sell retail insurance products in its local branches in order to spread the fixed costs (like the office rent) over a larger number of products.
Category: The European Communities

economies: economic advantages arising from multiple use and therefore higher utility of facilities
Category: Economics

Please see: encyclo.co.uk for more definitions

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