Mnemonics TOPIC 4 ECONOMICS

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Factor affecting business type
OF COURSE FEMALES POO = Ownership, Control, Finance, Profit sharing
1 of 10
Capital or Labour
COP = Comparissions, Objectives, Product
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+ Productivity (Economy)
CAN WE EVEN GET PLAT = Compete, Wages, EoS, Growth (Tax), Profit
3 of 10
Productivity growth causes
CISIE = Competition, Investment, Skills, Innovation, Entrepeneurs
4 of 10
Alt. business objectives
MISE = Market share, Image, Survival, Ethical
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Perfect Competition
NO STOPPING 3 P'S = No barriers, Same product, Packed, Price takers, Perfect knowledge
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Monopoly
HIPS = High entry barriers, Imperfect knowledge, Price maker, Single supplier
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- Monopoly
KHAO SAN X = Knowledge, Substitues, X-inefficiency
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+ Monopoly
WEI = Wasteful competition, EoS, Innovation
9 of 10
Measuring Size
CREM = Capital employed, Revenue, Employee #, Market share
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Other cards in this set

Card 2

Front

Capital or Labour

Back

COP = Comparissions, Objectives, Product

Card 3

Front

+ Productivity (Economy)

Back

Preview of the front of card 3

Card 4

Front

Productivity growth causes

Back

Preview of the front of card 4

Card 5

Front

Alt. business objectives

Back

Preview of the front of card 5
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