AVMG 4200 Exam 1 Questions And Answers Rated A+ New Update Assured Satisfaction

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 utilityIn 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 flightLogistics, in its simplest form, - ️️combines inbound logistics with the outbound logistics of physical distribution "Time to Market" refers to the lead time between - ️️product production and retail sale In a modern Supply/Value Chain, - ️️value is created only by marketing, manufacturing and transportation The buying of transportation services is typically either done by a _____ or _____. - ️️shipper, forwarder Air Freight can compete on price against Motor Freight only when the - ️️Distance traveled is long and hub-hub A properly configured aerospace vehicle ready to provide air transportation services represents _____; the _____ of the aviation industry macro supply/value chain. - ️️capability, link in the middle Three primary categories of resources must be created to provide the air transportation service capability: - ️️Crew, Vehicles, and Infrastructure In order for there to be "Free Markets" several preconditions must be met; among the "top three" for a modern economic system are _____ . - ️️A predictable and stable means for value exchange The "Cost of Movement" (transportation price and features) varies widely among the different modes of transportation available to a shipper. Which transportation mode is typically the MOST ACCESSIBLE? - ️️Truck In order for there to be "Free Markets" several preconditions must be met; among the "top three" for a modern economic system are _____ . - ️️Buyer and seller information about surpluses and shortages Under the "Managerial Accounting" paradigm, the majority of transportation costs are characterized as - ️️Fixed The accounting paradigm that characterizes costs according to Unit Variable and NonUnit Variable categories is the _____ approach - ️️managerial accounting Determining the tax burden for a firm can best be determined through - ️️Cost accountingThe value created by a modern Supply/Value Chain is harvested - ️️Only at the retail (final customer) step of the process Supply chain speed is becoming increasingly important because - ️️Inventory in transit ties up capital Transportation adds value in an economic system by generating - ️️Time and place utility "DimWeight" is a transportation term that represents the - ️️Transportation capacity consumed The three main classes of service within Motor Freight are - ️️Truckload, Less than truckload, Small package