AVMG 4200 Exam 1 Questions and
Answers
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 - transportation
over great distances has become easy. cheap, and ubiquitous
Why is it so difficult to find a "truly domestic product" in almost any country or
region today? - reduction in the costs of transporting products over greater
distances and easing of trade restrictions
The three fundamental forms of utility under capitalist economic theory are: -
Possession, Form, and Time/Space
Utility or Value in an economic system created by the "physical transformation of
materials from raw to finished product" is called _____ value. - Form
Under the "Cost Accounting" paradigm, the majority of fuel costs are characterized
as - Variable
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 accounting paradigm that characterizes costs according to Direct Operating,
Indirect Operating, and Non-Operating categories is the _____ approach - cost
accounting
The economic deregulation of the transportation industry began with - rail in 1976
, The value created by a modern Supply/Value Chain is harvested - only at the retail
(final customer) step of the process
Which of the below is not one of the external forces driving the rate of change and
shaping our economic and political landscape? - Environmental concerns
Transportation service providers (freight or passengers) earn money by creating -
time and place utility
In a modern Supply/Value Chain - cost is generated by every single activity
For international-intercontinental carriage, _____ dominates in freight tonne-
kilometres (FTKs). - water
Air freight is typically carried by either _____ or _____. - Combination carriers,
Air cargo carriers
Motor Freight is unique among all modes due its ability to provide _____. - First &
Last mile logistics
"Freight Eligibility" determines and goes along with and determines _____. -
modal option selection
At the "front end" of the aviation industry supply/value chain, the focus is on -
creating the resources to provide a capability
Answers
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 - transportation
over great distances has become easy. cheap, and ubiquitous
Why is it so difficult to find a "truly domestic product" in almost any country or
region today? - reduction in the costs of transporting products over greater
distances and easing of trade restrictions
The three fundamental forms of utility under capitalist economic theory are: -
Possession, Form, and Time/Space
Utility or Value in an economic system created by the "physical transformation of
materials from raw to finished product" is called _____ value. - Form
Under the "Cost Accounting" paradigm, the majority of fuel costs are characterized
as - Variable
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 accounting paradigm that characterizes costs according to Direct Operating,
Indirect Operating, and Non-Operating categories is the _____ approach - cost
accounting
The economic deregulation of the transportation industry began with - rail in 1976
, The value created by a modern Supply/Value Chain is harvested - only at the retail
(final customer) step of the process
Which of the below is not one of the external forces driving the rate of change and
shaping our economic and political landscape? - Environmental concerns
Transportation service providers (freight or passengers) earn money by creating -
time and place utility
In a modern Supply/Value Chain - cost is generated by every single activity
For international-intercontinental carriage, _____ dominates in freight tonne-
kilometres (FTKs). - water
Air freight is typically carried by either _____ or _____. - Combination carriers,
Air cargo carriers
Motor Freight is unique among all modes due its ability to provide _____. - First &
Last mile logistics
"Freight Eligibility" determines and goes along with and determines _____. -
modal option selection
At the "front end" of the aviation industry supply/value chain, the focus is on -
creating the resources to provide a capability
