The crucial difference between the word 'lend and borrow' lies in the direction of action, in the sense that they usually mean the same thing, i.e. to give or take money from someone else, with the understanding of returning it in the future. We use lend when we are talking with the giver's perspective. But when we talk with receiver's standpoint, we use the word borrow. Let's understand this with an example: Why did you borrow money from Anamika, when I already lent the money you needed? … [Read more...]
Difference Between Manual Filing and E-Filing
Previously, people opted for manual filing of income tax returns. In the manual filing of returns, the taxpayer must fill out the right form, declare his income from various sources and perform calculations to compute the tax. After that, the assessee must submit the form to the IT department. So, it used to be a time-consuming and lengthy process. As human beings, we all have the same tendency to wait for the deadlines. There are only a few people who complete everything in advance. And so, … [Read more...]
Difference Between Internal and International Trade
Trade implies the process of buying and selling goods and services to earn profit. It covers all the activities resulting from which goods produced are distributed for consumption. This trade can take place either at the national or international level. While trade occurring within the boundaries of the nation is internal trade. Conversely, International Trade refers to the exchange of capital, goods and services across international boundaries or territories between the residents. When there … [Read more...]
Difference Between Population Growth and Population Change
Population Growth is the actual addition or increase in the existing population during a specific period. It refers to the change in population size in a given period. Simply put, it is the increase in the total number of humans on this planet. We all know that the world population is not stationary; it changes every minute. As of now, 278 people take birth every minute, whereas 106 people die every minute. So, there is a constant change in population due to various reasons, including birth … [Read more...]
Difference Between Dictionary and Thesaurus
Dictionary and Thesaurus are two wordbooks or electronic tool which are used by students, writers and other people in day to day life, to find out meanings and related information of any word. A dictionary refers to an alphabetical directory of words with their meanings, of a language or discipline. It will also tell you the different contexts in which the word can be used. On the other hand, Thesaurus is a treasury of words that enlist synonyms and antonyms. It is used to group alternative … [Read more...]
Difference Between Birth Rate and Death Rate
Birth Rate, as the name suggests, is the number of babies born every year per thousand people in a specific area. As against, death rate implies the number of deaths occurring every year per thousand people in the population in a geographic area. Generally, demographic indicators are classified into population statistics and vital statistics. While, the population statistics include the size of the population, sex ratio, density, and dependency ratio. Vital statistics include birth rate, … [Read more...]
Difference Between Liquidated and Unliquidated Damages
At times the parties to the contract decide a reasonable compensation payable at the time of the breach of contract. The amount agreed by the parties concerned beforehand is called liquidated damages. So, these are predetermined damages that the parties agree to pay each other if they break the contract. As against, the court grants unliquidated damages depending upon the assessment of loss or injury that occurred to the plaintiff on account of the breach of the contract. What are … [Read more...]
Difference Between When and While
'When' and 'While' are often juxtaposed when we are talking about actions or events that take place simultaneously or even when you are discussing something that happened previously, and you are like, 'that time it happened'. So, you must be aware that both the words are somewhat related to time and action. When implies at or during which time, whereas while represents at the same time. Let's take a look at these examples to understand the two: Alan was playing while we were completing our … [Read more...]
Difference Between Tort and Contract
Contract Law encompasses consent-based relationships between parties. In this one party to the contract agrees to perform a certain obligation in exchange for something from the other party. Contracts indicate commitments made by the parties for the future. The parties entering into the contract expect the fulfilment of the commitment in future. Conversely, Tort Law is concerned with non-consensual relationships, wherein the action or omission of one party causes harm to another. A tort is … [Read more...]
Difference Between Monopoly and Perfect Competition
A perfectly competitive market is a market where you can find a large number of buyers and sellers. The firms in such a market offer homogeneous products. Also, no firm is large enough to influence the market price. Basically, perfect competition exhibits the 'ideal' form of competition that exists in the industry. For instance: An industry comprising street corner vendors can come under this category. On the other hand, a monopoly is when a single firm owns all or almost all of the market … [Read more...]