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 ...
AVMG 4200 - Exam 1 study guide 2024
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.
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
The focus on "Fixed" vs. "Variable" costs that uses time as the basis of
categorization is the ______ approach. - Cost Accounting
, The cost per passenger (or pound) for a flight is literally impossible to calculate in
advance because ______. - The costs are fixed but demand varies.
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.
Under the modern Supply/Value Chain concept, the ______ pays for all the costs
of the entire process. - Retail Consumer
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
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