What is the difference between early binding and late binding? What are advantages of early binding?

a.) Late binding refers to function calls which aren't resolved until run time whereas early binding refers to events which take place at compile time.

b.) Late binding takes place by virtual functions whereas early binding occurs when all the information required to call a function is known at the time of compiling.

Early binding increases efficiency. Some of the instances of early binding are normal function calls, overloaded operators and overloaded function calls etc.