ACCURACY IS GUARANTEED
AVMG 4200 - Exam 1 Questions with Detailed
Verified Answers for Accuracy
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.
"Yield (or Revenue) Management" pricing strategy attempts to
sell each ticket or waybill ______.
✓✓ For the maximum price possible.
, ACCURACY IS GUARANTEED
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.
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 ______.
, ACCURACY IS GUARANTEED
✓✓ 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
______ 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 ______.
AVMG 4200 - Exam 1 Questions with Detailed
Verified Answers for Accuracy
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.
"Yield (or Revenue) Management" pricing strategy attempts to
sell each ticket or waybill ______.
✓✓ For the maximum price possible.
, ACCURACY IS GUARANTEED
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.
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 ______.
, ACCURACY IS GUARANTEED
✓✓ 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
______ 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 ______.
