Sunday, April 11, 2010
economy of scope
I am taking an economics class and its talking about economies of scale and scope. And I realzied I am an economy of scope. Basically where you save money for producing many products. When I make a beanie and scarf set, im saving money becuase i can use the same yarn and same knitting needles. Rather than me having to go out and buy a new set of needles becuase i decide i want to make beanies, I already have them becuase i make scarves, and i also already have the experience, rather than going somewhere else and having them train me etc. Im so excited that im putting my school work into my own real life YAY FOR ME!