Limits Related to Using the GRP System Include

question 30

Multiple Choice

Limits related to using the GRP system include:

• A)difficulty in making intermarket comparisons.
• B)difficulty in identifying a program that appeals to a particular prospect.
• C)difficulty indicating how ineffectively a broadcast schedule is actually performing.
• D)difficulty indicating which day and timeslots are least costly.
• E)difficulty in limiting intermarket comparisons.

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Definitions:

Opportunity Cost

The value of the best alternative that is forgone when a choice is made between several mutually exclusive alternatives.

Bowed Outward

Describes a curve (such as in production possibilities frontier) that shows increasing opportunity costs for producing two goods.

Capital

Assets with monetary value, including cash and commodities, which are utilized to produce income or accumulate wealth.

Opportunity Costs

The financial loss associated with rejecting the next most favorable option during decision-making.