Differences among Shared and Dynamic libraries

Question

Describe differences among Shared and Dynamic libraries?

Answer 1

There are two ways wherein a library is shared.

Static & dynamic

In statically linked library the code of library is referenced at compile time and the result executable will be greater.
In dynamically linked libraries the code of library is referenced at run time & resulting executable will be smaller. But drawback is that at run time this will require the library to reference the library related symbols