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