AVMG 4200 Exam 1 Questions And Answers Rated A+ New Update Assured Satisfaction
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Course
AVMG 4200
Institution
AVMG 4200
At the "front end" of the aviation industry supply/value chain, the focus is on -
️️creating the resources to provide a capability
Utility or Value in an economic system created by the "physical transformation of
materials from raw to finished product" is called _____ value. - ️️Form
Th...
AVMG 4200 Exam 1
At the "front end" of the aviation industry supply/value chain, the focus is on -
✔️✔️creating the resources to provide a capability
Utility or Value in an economic system created by the "physical transformation of
materials from raw to finished product" is called _____ value. - ✔️✔️Form
The cost per passenger (or pound) for a flight is literally impossible to calculate in
advance because - ✔️✔️the costs are fixed but demand varies
Why is it so difficult to find a "truly domestic product" in almost any country or region
today? - ✔️✔️reduction in the costs of transporting products over greater distances and
easing of trade restrictions
The three fundamental forms of utility under capitalist economic theory are: -
✔️✔️Possession, Form, and Time/Space
The explosion in international trade at the end of World War II that continues to this day
is a direct result of three main factors; among them are - ✔️✔️transportation over great
distances has become easy. cheap, and ubiquitous
Under the "Cost Accounting" paradigm, the majority of fuel costs are characterized as -
✔️✔️Variable
The accounting paradigm that characterizes costs according to Direct Operating,
Indirect Operating, and Non-Operating categories is the _____ approach - ✔️✔️cost
accounting
The economic deregulation of the transportation industry began with - ✔️✔️rail in 1976
The value created by a modern Supply/Value Chain is harvested - ✔️✔️only at the
retail (final customer) step of the process
Which of the below is not one of the external forces driving the rate of change and
shaping our economic and political landscape? - ✔️✔️Environmental concerns
Transportation service providers (freight or passengers) earn money by creating -
✔️✔️time and place utility
, In a modern Supply/Value Chain - ✔️✔️cost is generated by every single activity
For international-intercontinental carriage, _____ dominates in freight tonne-kilometres
(FTKs). - ✔️✔️water
Air freight is typically carried by either _____ or _____. - ✔️✔️Combination carriers, Air
cargo carriers
Motor Freight is unique among all modes due its ability to provide _____. - ✔️✔️First &
Last mile logistics
"Freight Eligibility" determines and goes along with and determines _____. -
✔️✔️modal option selection
Product types that represent the market for air freight include items that are -
✔️✔️sensitive to environmental extremes
The three broad categories of air transportation services provided by the macro aviation
industry supply/value chain include - ✔️✔️Scheduled, On-Demand, Public Service
Product types that represent the market for air freight include items that are -
✔️✔️Valuable relative to weight and volume
The "Cost of Movement" (transportation price and features) varies widely among the
different modes of transportation available to a shipper. Which transportation modes are
typically the FASTEST? - ✔️✔️Air and Truck
The "Value Proposition" that must be satisfied for the "invisible hand" to move goods
from areas of surplus to areas of shortage holds that the _____ must be _______ the
______ . - ✔️✔️change in total value, greater than, change in total cost
Why is it so difficult to find a "truly domestic product" in almost any country or region
today? - ✔️✔️reduction in the costs of transporting products over greater distances and
easing of trade restrictions
"Managerial" accounting deals primarily with - ✔️✔️assessing business alternatives
The "broad rule making powers" granted by Congress to the cabinet level secretaries -
✔️✔️have the full force of criminal and civil law until overturned by the Supreme Court
At a minimum, the "lowest" price per seat (pax) or pound (cargo) should be set to -
✔️✔️cover all costs associated with the flight
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