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

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.Most retailers are essentially supply chain companies since ______. - ️️They buy products produced by others. One of the major challenges of supply chain management is ______. - ️️Maintaining the visibility of inventory. Which of the below is not one of the external forces driving the rate of change and shaping of our economic and political landscape? - ️️Environmental Concerns Outsourcing involves ______. - ️️Obtaining materials, parts, and products from other companies. The ______ is the firm seeking to purchase transportation services. - ️️Shipper In the competitive environment for transportation services, ______ refers to the modal characteristic defined by the probability of loss or Damage In Transit (DIT) of the shipment. - ️️Security In the competitive environment for transportation services, ______ refers to the modal characteristic defined by the convenience and number of dropoff & pickup locations. - ️️Accessibility The three main classes of service within Motor Freight are: - ️️- Truckload - Less than Truckload - Small Package The three broad categories of air transportation services provided by the macro aviation industry supply/value chain include: - ️️- Scheduled - On-Demand - Public Service While the value created in a traditional "supply chain" takes the form of a ______, the value created in the "aviation industry supply chain" takes the form of a ______. - ️️Good; Service "Air transportation service capability" can be defined as ______. - ️️A bundle of resources available to provide air transportation services. 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 LEAST EXPENSIVE? - ️️Pipeline and Water