Logical address – generated by the CPU; also referred to as virtual address
Set of all logical addresses generated by a program is a logical-address space
Physical address – address seen by the memory unit
Set of all physical addresses corresponding to these logical addresses is a physical-address space, in the execution-time address-binding scheme
Logical and physical addresses are the same in compile-time and load-time address-binding schemes
differ in execution-time address-binding scheme