AVMG 4200 - Exam 1 Questions And Answers Rated A+ New Update Assured Satisfaction
6 views 0 purchase
Course
AVMG 4200
Institution
AVMG 4200
Under the modern Supply/Value Chain concept, the ______ pays for all the costs of the
entire process. - ️️Retail Consumer
The cost per passenger (or pound) for a flight is literally impossible to calculate in
advance because ______. - ️️The costs are fixed but demand varies.
Utility or ...
AVMG 4200 - Exam 1
Under the modern Supply/Value Chain concept, the ______ pays for all the costs of the
entire process. - ✔️✔️Retail Consumer
The cost per passenger (or pound) for a flight is literally impossible to calculate in
advance because ______. - ✔️✔️The costs are fixed but demand varies.
Utility or Value in an economic system created by the "physical transformation of
materials from raw to finished product" is called ______ value. - ✔️✔️Form
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 ______. - ✔️✔️- Governments
have enacted "laissez faire" economic policies for importation of foreign products.
- Transportation over great distances has become easy, cheap, and ubiquitous.
"Yield (or Revenue) Management" pricing strategy attempts to sell each ticket or waybill
______. - ✔️✔️For the maximum price possible.
Federal transportation regulations fall under two primary domains or categories: ______
and ______ . - ✔️✔️- Safety
- Economic
Goods will move from areas of surplus to areas of shortage as if by a mysterious
"Invisible Hand" as long as three fundamental conditions are met; among these are
______. - ✔️✔️- The "Value Proposition" is met (change in total value is greater than
change in total cost)
- Government does not prohibit or impede movement through regulation or taxes.
The focus on "Fixed" vs. "Variable" costs that uses time as the basis of categorization is
the ______ approach. - ✔️✔️Cost Accounting
A modern Supply/Value "Chain" is actually a network of ______ connected by ______ .
- ✔️✔️Fixed nodes; transportation arcs
In a modern Supply/Value Chain, ______. - ✔️✔️- Value is created only by Marketing,
Manufacturing, and Transportation.
- Cost is generated by every single activity.
, The "Value Proposition of Transportation" is founded on the principle of ______. -
✔️✔️Moving a product to a different context can increase its value.
Air Freight Forwarders are classified as ______. - ✔️✔️Middlemen
______ is used primarily for the long-distance carriage of low-value goods. - ✔️✔️Rail
"Combination Carriers" in air freight carry both ______ and ______. - ✔️✔️-
Passengers
- Cargo
The "first filter" the transportation services buyer must apply to a shipment is known as
______. - ✔️✔️Freight Eligibility
Product types that represent the market for air freight include items that are ______. -
✔️✔️- Sensitive to environmental extremes
- Valuable relative to weight and volume.
Two key economic factors affecting the setting of air freight rates include ______ and
______. - ✔️✔️- Cost of service
- Value of service
The three types of Air Freight Carriers are: - ✔️✔️- Integrated
- Combination
- Dedicated (All Cargo)
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.
Under the "Cost Accounting" paradigm, LABOR is typically characterized as a ______
cost. - ✔️✔️Variable
"Yield (or Revenue) Management" pricing strategy results in each ticket or waybill being
sold ______. - ✔️✔️For very different prices.
The focus on "Fixed" vs. "Variable" costs that uses units of production as the basis of
categorization is the ______ approach. - ✔️✔️Managerial Accounting
The ultimate form of "Yield (or Revenue) Management" pricing strategy would result in
______. - ✔️✔️Every flight departing at full capacity for maximum profit.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller PatrickKaylian. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.59. You're not tied to anything after your purchase.
