What is late binding and early binding?

Short answer: Early binding → Resolved at compile time (e.g., method overloading). Late binding → Resolved at runtime (e.g., method overriding with virtual/override).

Say this in the interview

1. Define — one clear sentence (the short answer above).
2. Example — relate it to a project like ShopNest or your real work.
3. Trade-off — when you would not use it.