Level i vocabulary - Study guides, Class notes & Summaries

CFA Level I Vocabulary question with 100% correct answers 2023 A priori probability - correct answer A probability based on logical analysis rather than on observation or personal judgment. Abnormal profit - correct answer Equal to accounting profit less the implicit opportunity costs not included in total accounting costs; the difference between total revenue (TR) and total cost (TC). Absolute advantage - correct answer A country's ability to produce a good or service at a lower absolut...