Differentiate between logical address and physical address.
A logical address is the address of the data word or instruction as used by a program (it includes the use of base, index or segment register).
A physical address is the address of effective memory of a data word or an instruction. The set of physical addresses produced during operation of system constitute the system's physical address space. The compile time and the load time address binding schemes effect in environment where the logical and physical address is similar, whereas during execution time addresses are different.