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An economic environment can often have a competitive nature, which can be both an advantage and disadvantage. For trading nations, there are also trade limitations on a solely economic environment.
Wiki User
∙ 9y ago
Wiki User
∙ 13y agoAccording to David Kass in his 1998 article, "Economies of Scope and Home Healthcare," economies of scope exist if a firm can produce several product lines at a given output level more cheaply than a combination of separate firms each producing a single product at the same output level.
Advantages -
Can provide variety of related good and service using the same infrastructure.
Cost saving arising from by-product during the production process
Can take on competition to increase the profitability
Disadvantage - Complexity of Production Process due to mix of products
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