AVMG 4200 - Exam 1 Questions and Answers Latest Update 2025 Already Passed
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 ______. - 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.
Utility or Value in an economic system created by the "physical transformation of materials from raw to
finished product" is called ______ value. - Answers 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 ______. - Answers - 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 ______. -
Answers For the maximum price possible.
Federal transportation regulations fall under two primary domains or categories: ______ and ______ . -
Answers - Safety
- Economic
The focus on "Fixed" vs. "Variable" costs that uses time as the basis of categorization is the ______
approach. - Answers Cost Accounting
The cost per passenger (or pound) for a flight is literally impossible to calculate in advance because
______. - Answers The costs are fixed but demand varies.
A modern Supply/Value "Chain" is actually a network of ______ connected by ______ . - Answers Fixed
nodes; transportation arcs
In a modern Supply/Value Chain, ______. - Answers - 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 ______. - Answers 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. -
Answers Retail Consumer
Air Freight Forwarders are classified as ______. - Answers Middlemen
______ is used primarily for the long-distance carriage of low-value goods. - Answers Rail
, "Combination Carriers" in air freight carry both ______ and ______. - Answers - Passengers
- Cargo
The "first filter" the transportation services buyer must apply to a shipment is known as ______. -
Answers Freight Eligibility
Product types that represent the market for air freight include items that are ______. - Answers -
Sensitive to environmental extremes
- Valuable relative to weight and volume.
Two key economic factors affecting the setting of air freight rates include ______ and ______. - Answers
- Cost of service
- Value of service
The "first mile-last mile" issue of air transportation supply/value chains is a major characteristic or
concern of the ______ perspective. - Answers Physical
The three types of Air Freight Carriers are: - Answers - 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 _______ . - Answers Change in
total value; greater than; change in total cost.
Under the "Cost Accounting" paradigm, LABOR is typically characterized as a ______ cost. - Answers
Variable
"Yield (or Revenue) Management" pricing strategy results in each ticket or waybill being sold ______. -
Answers For very different prices.
The focus on "Fixed" vs. "Variable" costs that uses units of production as the basis of categorization is
the ______ approach. - Answers Managerial Accounting
The ultimate form of "Yield (or Revenue) Management" pricing strategy would result in ______. -
Answers Every flight departing at full capacity for maximum profit.
Most retailers are essentially supply chain companies since ______. - Answers They buy products
produced by others.
One of the major challenges of supply chain management is ______. - Answers Maintaining the visibility
of inventory.
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 ______. - 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.
Utility or Value in an economic system created by the "physical transformation of materials from raw to
finished product" is called ______ value. - Answers 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 ______. - Answers - 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 ______. -
Answers For the maximum price possible.
Federal transportation regulations fall under two primary domains or categories: ______ and ______ . -
Answers - Safety
- Economic
The focus on "Fixed" vs. "Variable" costs that uses time as the basis of categorization is the ______
approach. - Answers Cost Accounting
The cost per passenger (or pound) for a flight is literally impossible to calculate in advance because
______. - Answers The costs are fixed but demand varies.
A modern Supply/Value "Chain" is actually a network of ______ connected by ______ . - Answers Fixed
nodes; transportation arcs
In a modern Supply/Value Chain, ______. - Answers - 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 ______. - Answers 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. -
Answers Retail Consumer
Air Freight Forwarders are classified as ______. - Answers Middlemen
______ is used primarily for the long-distance carriage of low-value goods. - Answers Rail
, "Combination Carriers" in air freight carry both ______ and ______. - Answers - Passengers
- Cargo
The "first filter" the transportation services buyer must apply to a shipment is known as ______. -
Answers Freight Eligibility
Product types that represent the market for air freight include items that are ______. - Answers -
Sensitive to environmental extremes
- Valuable relative to weight and volume.
Two key economic factors affecting the setting of air freight rates include ______ and ______. - Answers
- Cost of service
- Value of service
The "first mile-last mile" issue of air transportation supply/value chains is a major characteristic or
concern of the ______ perspective. - Answers Physical
The three types of Air Freight Carriers are: - Answers - 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 _______ . - Answers Change in
total value; greater than; change in total cost.
Under the "Cost Accounting" paradigm, LABOR is typically characterized as a ______ cost. - Answers
Variable
"Yield (or Revenue) Management" pricing strategy results in each ticket or waybill being sold ______. -
Answers For very different prices.
The focus on "Fixed" vs. "Variable" costs that uses units of production as the basis of categorization is
the ______ approach. - Answers Managerial Accounting
The ultimate form of "Yield (or Revenue) Management" pricing strategy would result in ______. -
Answers Every flight departing at full capacity for maximum profit.
Most retailers are essentially supply chain companies since ______. - Answers They buy products
produced by others.
One of the major challenges of supply chain management is ______. - Answers Maintaining the visibility
of inventory.
