def count_frequency(lst):
    frequency = {}
    for item in lst:
        if item in frequency:
            frequency[item] += 1
        else:
            frequency[item] = 1
    print("Element Frequencies:", frequency)

# Example usage
count_frequency([1, 2, 2, 3, 4, 4, 4, 5])

Element Frequencies: {1: 1, 2: 2, 3: 1, 4: 3, 5: 1}