AVMG 4200 Test 1 Questions and
Answers 2024
The three fundamental forms of utility under capitalist economic theory are: -
Possession, Form, and Time/Space
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
_____ . - free market conditions are provided
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 of value exchange
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
The economic deregulation of the transportation industry began with - rail in 1976
"Managerial" accounting deals primarily with - assessing business alternatives
Under the "Cost Accounting" paradigm, labor is typically characterized as a _____
cost. - variable
,Transportation adds value in an economic system by generating - time and Place
utility
The _____ cost concept is a core principle of the modern Supply/Value Chain
model. - total
The value created by a modern Supply/Value Chain is harvested - only at the retail
(final customer) step of the process
A critical outcome of the supply chain is to deliver - the right product to the right
place.
"Freight Eligibility" determines and goes along with and determines _____. -
modal option selection
The buying of transportation services is typically either done by a _____ or _____.
- shipper, forwarder
In the competitive environment for transportation services, _____ refers to the
modal characteristic defined by the convenience and number of dropoff & pickup
locations. - accessibility
The two main negotiation approaches between freight buyers and carriers are the
_____ and _____. - adversarial, collaborative
Product types that represent the market for air freight include items that are -
valuable relative to weight and volume
, In the "Physical perspective" of the aviation industry macro supply/value chain, the
system is made up of - nodes (locations) and arcs (routes)
The "arcs" in the physical model of the aviation industry supply/value chain
perspective can be either _____ or _____. - surface, air
The three types of Air Freight Carriers are - Integrated, Combination, Dedicated
(all-cargo)
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
"Time & Place Value" is created by the _____ function in an organization. -
Logistics
"Possession Value" is created by the _____ function in an organization. -
Marketing
"Yield (or Revenue) Management" pricing strategy attempts to sell each ticket or
waybill - for the maximum price possible
Profit maximizing decisions can only be determined through - managerial
accounting
Determining the tax burden for a firm can best be determined through - cost
accounting
Answers 2024
The three fundamental forms of utility under capitalist economic theory are: -
Possession, Form, and Time/Space
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
_____ . - free market conditions are provided
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 of value exchange
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
The economic deregulation of the transportation industry began with - rail in 1976
"Managerial" accounting deals primarily with - assessing business alternatives
Under the "Cost Accounting" paradigm, labor is typically characterized as a _____
cost. - variable
,Transportation adds value in an economic system by generating - time and Place
utility
The _____ cost concept is a core principle of the modern Supply/Value Chain
model. - total
The value created by a modern Supply/Value Chain is harvested - only at the retail
(final customer) step of the process
A critical outcome of the supply chain is to deliver - the right product to the right
place.
"Freight Eligibility" determines and goes along with and determines _____. -
modal option selection
The buying of transportation services is typically either done by a _____ or _____.
- shipper, forwarder
In the competitive environment for transportation services, _____ refers to the
modal characteristic defined by the convenience and number of dropoff & pickup
locations. - accessibility
The two main negotiation approaches between freight buyers and carriers are the
_____ and _____. - adversarial, collaborative
Product types that represent the market for air freight include items that are -
valuable relative to weight and volume
, In the "Physical perspective" of the aviation industry macro supply/value chain, the
system is made up of - nodes (locations) and arcs (routes)
The "arcs" in the physical model of the aviation industry supply/value chain
perspective can be either _____ or _____. - surface, air
The three types of Air Freight Carriers are - Integrated, Combination, Dedicated
(all-cargo)
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
"Time & Place Value" is created by the _____ function in an organization. -
Logistics
"Possession Value" is created by the _____ function in an organization. -
Marketing
"Yield (or Revenue) Management" pricing strategy attempts to sell each ticket or
waybill - for the maximum price possible
Profit maximizing decisions can only be determined through - managerial
accounting
Determining the tax burden for a firm can best be determined through - cost
accounting
