What's the difference between memory and hard disk space?

I get a surprising number of questions that show a misunderstanding between
these most basic of computer terms.

Most commonly people believe that they are the same.

Of course they are not, though I can see how it could be easy to confuse
them at a conceptual level.

So ... let me explain three terms: memory, hard disk, and RAM.


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What's the difference between memory and hard disk space?