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Economies of Scale
The cost advantage that arises with increased output of a product, where the per-unit cost decreases as production expands.
Economy of Scope
Cost advantages that businesses experience by producing a variety of products rather than specializing in a single output.
Range of Products
The variety of different items that a company offers for sale to its customers.
Collective Agreements
Contracts made between employers and a group of employees, often represented by a union, that determine the terms of employment, including wages, working hours, and working conditions.
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