I'm Studying For My Business Cycle Test and I'm finding it for hard to remember all the elements of the micro market and market environment so I was just hopeing someone could have like a catchy sentence for the elements in each environment e.g takeing the begining letter of each element
You can find one (PESTLE) at
http://rapidbi.com/the-pestle-analysis-tool/
Using the word "mnemonic" and the "elements" or field of economics you have in mind, you can easily Google for others.
Absolutely! Creating a catchy sentence using the beginning letter of each element can be a helpful mnemonic device to remember the elements of the micro market and market environment. Here's an example:
Elements of the Micro Market Environment:
1. Customers
2. Competitors
3. Suppliers
4. Intermediaries
To remember these elements, you can create a sentence like: "Cats Can Sing Incredibly."
Elements of the Market Environment:
1. Political Factors
2. Economic Factors
3. Socio-cultural Factors
4. Technological Factors
5. Environmental Factors
6. Legal Factors
To remember these elements, you can create a sentence like: "Peter Eats Sushi Then Enjoys Live music."
Remember to come up with your own catchy sentences that resonate with you, as that will help you remember the elements more effectively. Good luck with your study!