AVMG 4200 - EXAM 1 QUESTIONS AND ANSWERS
- 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. -
Answers :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 ______.
Form - Answers :Utility or Value in an economic system created by the "physical
transformation of materials from raw to finished product" is called ______ value.
- Governments have enacted "laissez faire" economic policies for importation of foreign
products.
- Transportation over great distances has become easy, cheap, and ubiquitous. -
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 ______.
- Value is created only by Marketing, Manufacturing, and Transportation.
- Cost is generated by every single activity. - Answers :In a modern Supply/Value Chain,
______.
Moving a product to a different context can increase its value. - Answers :The "Value
Proposition of Transportation" is founded on the principle of ______.
Retail Consumer - Answers :Under the modern Supply/Value Chain concept, the
______ pays for all the costs of the entire process.
Middlemen - Answers :Air Freight Forwarders are classified as ______.
Rail - Answers :______ is used primarily for the long-distance carriage of low-value
goods.
- Passengers
- Cargo - Answers :"Combination Carriers" in air freight carry both ______ and ______.
Freight Eligibility - Answers :The "first filter" the transportation services buyer must apply
to a shipment is known as ______.
- Sensitive to environmental extremes
- Valuable relative to weight and volume. - Answers :Product types that represent the
market for air freight include items that are ______.
- Cost of service
- Value of service - Answers :Two key economic factors affecting the setting of air
freight rates include ______ and ______.
, Physical - Answers :The "first mile-last mile" issue of air transportation supply/value
chains is a major characteristic or concern of the ______ perspective.
- Integrated
- Combination
- Dedicated (All Cargo) - Answers :The three types of Air Freight Carriers are:
Change in total value; greater than; change in total cost. - Answers :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 _______ .
Variable - Answers :Under the "Cost Accounting" paradigm, LABOR is typically
characterized as a ______ cost.
For very different prices. - Answers :"Yield (or Revenue) Management" pricing strategy
results in each ticket or waybill being sold ______.
Managerial Accounting - Answers :The focus on "Fixed" vs. "Variable" costs that uses
units of production as the basis of categorization is the ______ approach.
Every flight departing at full capacity for maximum profit. - Answers :The ultimate form
of "Yield (or Revenue) Management" pricing strategy would result in ______.
For the maximum price possible. - Answers :"Yield (or Revenue) Management" pricing
strategy attempts to sell each ticket or waybill ______.
- Safety
- Economic - Answers :Federal transportation regulations fall under two primary
domains or categories: ______ and ______ .
Cost Accounting - Answers :The focus on "Fixed" vs. "Variable" costs that uses time as
the basis of categorization is the ______ approach.
The costs are fixed but demand varies. - Answers :The cost per passenger (or pound)
for a flight is literally impossible to calculate in advance because ______.
Fixed nodes; transportation arcs - Answers :A modern Supply/Value "Chain" is actually
a network of ______ connected by ______ .
They buy products produced by others. - Answers :Most retailers are essentially supply
chain companies since ______.
Maintaining the visibility of inventory. - Answers :One of the major challenges of supply
chain management is ______.
- 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. -
Answers :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 ______.
Form - Answers :Utility or Value in an economic system created by the "physical
transformation of materials from raw to finished product" is called ______ value.
- Governments have enacted "laissez faire" economic policies for importation of foreign
products.
- Transportation over great distances has become easy, cheap, and ubiquitous. -
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 ______.
- Value is created only by Marketing, Manufacturing, and Transportation.
- Cost is generated by every single activity. - Answers :In a modern Supply/Value Chain,
______.
Moving a product to a different context can increase its value. - Answers :The "Value
Proposition of Transportation" is founded on the principle of ______.
Retail Consumer - Answers :Under the modern Supply/Value Chain concept, the
______ pays for all the costs of the entire process.
Middlemen - Answers :Air Freight Forwarders are classified as ______.
Rail - Answers :______ is used primarily for the long-distance carriage of low-value
goods.
- Passengers
- Cargo - Answers :"Combination Carriers" in air freight carry both ______ and ______.
Freight Eligibility - Answers :The "first filter" the transportation services buyer must apply
to a shipment is known as ______.
- Sensitive to environmental extremes
- Valuable relative to weight and volume. - Answers :Product types that represent the
market for air freight include items that are ______.
- Cost of service
- Value of service - Answers :Two key economic factors affecting the setting of air
freight rates include ______ and ______.
, Physical - Answers :The "first mile-last mile" issue of air transportation supply/value
chains is a major characteristic or concern of the ______ perspective.
- Integrated
- Combination
- Dedicated (All Cargo) - Answers :The three types of Air Freight Carriers are:
Change in total value; greater than; change in total cost. - Answers :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 _______ .
Variable - Answers :Under the "Cost Accounting" paradigm, LABOR is typically
characterized as a ______ cost.
For very different prices. - Answers :"Yield (or Revenue) Management" pricing strategy
results in each ticket or waybill being sold ______.
Managerial Accounting - Answers :The focus on "Fixed" vs. "Variable" costs that uses
units of production as the basis of categorization is the ______ approach.
Every flight departing at full capacity for maximum profit. - Answers :The ultimate form
of "Yield (or Revenue) Management" pricing strategy would result in ______.
For the maximum price possible. - Answers :"Yield (or Revenue) Management" pricing
strategy attempts to sell each ticket or waybill ______.
- Safety
- Economic - Answers :Federal transportation regulations fall under two primary
domains or categories: ______ and ______ .
Cost Accounting - Answers :The focus on "Fixed" vs. "Variable" costs that uses time as
the basis of categorization is the ______ approach.
The costs are fixed but demand varies. - Answers :The cost per passenger (or pound)
for a flight is literally impossible to calculate in advance because ______.
Fixed nodes; transportation arcs - Answers :A modern Supply/Value "Chain" is actually
a network of ______ connected by ______ .
They buy products produced by others. - Answers :Most retailers are essentially supply
chain companies since ______.
Maintaining the visibility of inventory. - Answers :One of the major challenges of supply
chain management is ______.
