Compile time Polymorphism or Early Binding
The polymorphism in which compiler identifies which polymorphic form it has to execute at compile time it self is called as compile time polymorphism or early binding.
Advantage of early binding is execution will be fast. Because every thing about the method is known to compiler during compilation it self and disadvantage is lack of flexibility.
Examples of early binding are overloaded methods, overloaded operators and overridden methods that are called directly by using derived objects.
Runtime Polymorphism or Late Binding
The polymorphism in which compiler identifies which polymorphic form to execute at runtime but not at compile time is called as runtime polymorphism or late binding.
Advantage of late binding is flexibility and disadvantage is execution will be slow as compiler has to get the information about the method to execute at runtime.
Example of late binding is overridden methods that are called using base class object.Jitendrasoft09, if this helps please login to Mark As Answer. | Alert Moderator