The STEEPLE model is a very complete model that can be used to analyze the factors that affect a specific situation.
<h3>What is the STEEPLE model?</h3>
This is an analysis model in which each letter represents a factor to be analyzed:
- Social
- Technology
- Economic
- Environmental
- Political
- Legal
- Ethical
<h3>What is an example of this model?</h3>
Let's analyze a war between two countries:
- Social: The families are negatively affected by the war.
- Technology: Weapons and other technologies are used as part of the war.
- Economic: The economy of the countries involved and other nearby countries can be negatively or positively affected.
- Environmental: There is pollution due to waste derived from weapons.
- Political: Most wars are the result of political conflicts.
- Legal: There are specific international rules that regulate wars.
- Ethical: The use of weapons against a population rises ethical concerns and dilemmas.
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Scott was denied the loan because he was not old enough to qualify.
<h3>What is the Payday loan?</h3>
Payday loan is a type of unsecured loan in which high rate of the interest is given to the borrower. It is a kind of the short term loan basically for the two weeks.
According to the above situation, Scott is cannot get the payback loan because he is minor to sanction a loan. He must have the age of 18 years or above.
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Answer: Product Life cycle
Explanation: Product Life cycle is a concept used to describe the various stages which a product will have to undergo from the time of introduction into the market till the time it will eventually be out of the market. Different products have different life cycle,the life cycle is determined by different factors. The shape of a product's life cycle is that of a BELL SHAPE
The stages include Introductory stage, Growth stage, Stabilization stage and decline stage.