The President of the country is the first citizen, as well as the head of the State. On the other hand, the Prime Minister along with the other Council of Minister, heads the Government of the country, at the national level. Most of the people have doubts, regarding the roles, responsibilities, powers and authorities of the Prime Minister and President. But the fact is that the difference between the two executives relies on the country we are talking about, i.e. some countries have one or … [Read more...]
Difference Between Money Bill and Finance Bill
The fundamental difference between a money bill and finance bill is that a money bill can be introduced in only the lower house of parliament, i.e. Lok Sabha only, finance bill can be introduced in either of the two houses. Although money bill is a type of finance bill, most of the people use them interchangeably, but they differ in terms of their content. We often hear the term bill, but there are only a few people who actually know what the term means. A Bill refers to the proposal for a … [Read more...]
Difference Between Reinforcement and Punishment
Operant conditioning refers to a learning type, wherein outcomes of an action regulate one's behaviour. The consequence can be a reward or penalty. It was coined by famous behaviourist B. F. Skinner, who hold that behaviour is something which can only be described by observing it and not by thoughts and motivation. Reinforcement and punishment are the two fundamental notions of operant conditioning wherein the former, stimulates a particular behaviour, the latter, discourages a specific … [Read more...]
Difference Between Options and Warrants
Options and warrants are two derivatives traded in the exchange that give an option to the investor to buy the stock at a predetermined price and date. The basic difference between options and warrants is that while options are contracts, but warrants are financial instruments. Derivative connotes a financial instrument with no independent value, in essence, the value is ascertained from the value of the underlying asset, such as commodities, currencies, livestock, securities, bullion, etc. … [Read more...]
Difference Between Discovery and Invention
Each and everything that surrounds us and we are using in our day to day life is either discovered or invented, by experts. Most people have a misconception regarding the words discovery and invention, due to which they end up with the supposition that these two are one and the same thing. But that is not true, as discovery means uncovering something, which already existed, but not recognised by anybody else before, i.e. finding something unexpected. On the other hand, the invention refers to … [Read more...]
Difference Between Trademark and Patent
While the trademark is a mark, which can be a word, phrase, an image or anything else used to recognise the source of goods or service. The patent is a right granted to the inventor of something to manufacture, use or sell the invention. An idea remains an idea until and unless it is not transformed into something that has value. Once the idea is converted into a human creation, i.e. product, design, or any artistic work, it becomes intellectual property. Intellectual property is classified … [Read more...]
Difference Between Insurance and Assurance
Insurance is defined as an arrangement, in which the insurer commits to indemnify the loss or damage caused to the insured due to natural calamity or any other event whose happening is not certain, for special consideration. The term insurance is often juxtaposed with assurance, as these two are financial products sold by the company to people so as to protect their interest, however, they are different. Assurance refers to the agreement in which the insurer provides cover of an event, which … [Read more...]
Difference Between Hypothesis and Prediction
The hypothesis is the fundamental instrument in conducting research. It proposes new experiments and observations and indeed most of the experiments are undertaken, with the sole aim of testing the hypothesis. It is a propounded explanation for the happening of a particular phenomenon, whose development is based on specific evidence. Due to insufficient knowledge, many misconstrue hypothesis for prediction, which is wrong, as these two are entirely different. Prediction is forecasting of … [Read more...]
Difference Between Research Method and Research Methodology
Research can be understood as the systematic and rigorous search for appropriate information on a specific subject. It involves enunciation of the problem, developing a hypothesis, collecting and analysing data and drawing conclusions, based on the facts and data collected. And to do so, the researcher uses research methods, during the course of conducting research. The research methods are often confused with research methodology, which implies the scientific analysis of the research … [Read more...]
Difference Between Information and Knowledge
It is easy to get confused about information and knowledge. People often use the terms interchangeably, without knowing the fact that there are slight and subtle differences between information and knowledge. These two are important concepts of knowledge management system, wherein the former means processed data about someone or something, while the latter refers to useful information gained through learning and experience. When the data collected is filtered, it turns out as information. Of … [Read more...]
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