EXPLAIN THE DIFFERENCE BETWEEN A STATIC LIBRARY AND A DYNAMIC LIBRARY?

Static libraries are loaded when the program is compiled and dynamically-linked libraries are loaded in while the program is running. Dynamic libraries save the RAM space as against the static library because linking to static libraries includes the actual code for the library function(s)/procedure(s) with the executable. DLL code is kept at one location and is usually shared among all the processes that use the DLL.