When using external framework Xcode now has an Embedded Binaries as well as Linked Frameworks section.
When you download a
If you embed the binary it will be included into your product. If you only link a library or framework without embedding it, it will not be part of your product.
However, in iOS8 all 3rd party frameworks need to be "embedded". Even a framework that is shared between various programs needs to be "embedded" into every single one of those programs. In the case where it was installed on the device in a shared location, any other installation process using the same "embedded" code from the shared location can re-use that existing installation. This is specific to iOS8, it has not been possible before iOS8 and outside the iOS world this answer would not be accurate.