1
AVMG 4200 - Exam 1 Questions with
100% Correct Answers | for Specific
Exam Mail
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
______.
Ans: - 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.
Ans: 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 ______.
:
vPretest - Stuvia US
,2
Ans: - 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 ______.
Ans: For the maximum price possible.
Federal transportation regulations fall under two primary
domains or categories: ______ and ______ .
Ans: - Safety
- Economic
The focus on "Fixed" vs. "Variable" costs that uses time as
the basis of categorization is the ______ approach.
Ans: Cost Accounting
The cost per passenger (or pound) for a flight is literally
impossible to calculate in advance because ______.
:
vPretest - Stuvia US
, 3
Ans: The costs are fixed but demand varies.
A modern Supply/Value "Chain" is actually a network of
______ connected by ______ .
Ans: Fixed nodes; transportation arcs
In a modern Supply/Value Chain, ______.
Ans: - 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 ______.
Ans: 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.
Ans: Retail Consumer
:
vPretest - Stuvia US
AVMG 4200 - Exam 1 Questions with
100% Correct Answers | for Specific
Exam Mail
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
______.
Ans: - 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.
Ans: 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 ______.
:
vPretest - Stuvia US
,2
Ans: - 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 ______.
Ans: For the maximum price possible.
Federal transportation regulations fall under two primary
domains or categories: ______ and ______ .
Ans: - Safety
- Economic
The focus on "Fixed" vs. "Variable" costs that uses time as
the basis of categorization is the ______ approach.
Ans: Cost Accounting
The cost per passenger (or pound) for a flight is literally
impossible to calculate in advance because ______.
:
vPretest - Stuvia US
, 3
Ans: The costs are fixed but demand varies.
A modern Supply/Value "Chain" is actually a network of
______ connected by ______ .
Ans: Fixed nodes; transportation arcs
In a modern Supply/Value Chain, ______.
Ans: - 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 ______.
Ans: 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.
Ans: Retail Consumer
:
vPretest - Stuvia US
