Economies of Scope

Economies of scope says clearly says about how to use the same inputs for different outcomes
same set of inputs used to different outcomes
Economies of scope occur when products share common inputs and diversification leads to cost savings.

Example - For instance let's take an example of IBA . IBA gives 2 degrees MBA and PGDM . So we can say that IBA has two different outcomes for inputs of  same faculty same canteen same Hostel same Infrastructure . So from this we can define Economies of scope.