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AVMG 4200 - EXAM 1 QUESTIONS AND CORRECT ANSWERS | LATEST UPDATE $11.49   Add to cart

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AVMG 4200 - EXAM 1 QUESTIONS AND CORRECT ANSWERS | LATEST UPDATE

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  • AVMG 4200

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 ...

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  • September 17, 2024
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  • AVMG 4200
  • AVMG 4200
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2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




AVMG 4200 - EXAM 1 QUESTIONS AND
CORRECT ANSWERS | LATEST UPDATE
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.




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.




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,2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




"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




The focus on "Fixed" vs. "Variable" costs that uses time as the basis of categorization is the

______ approach.


✓ -:- Cost Accounting




The cost per passenger (or pound) for a flight is literally impossible to calculate in advance

because ______.


✓ -:- The costs are fixed but demand varies.




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, 2024 /2025 | © copyright | This work may not be copied for profit gain | Excel!




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.




Under the modern Supply/Value Chain concept, the ______ pays for all the costs of the

entire process.


✓ -:- Retail Consumer




Air Freight Forwarders are classified as ______.


✓ -:- Middlemen




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