What is the difference between statically typed and dynamically typed languages?

Question

I hear a lot that new programming languages are dynamically typed but what does it actually mean when we say a language is dynamically typed vs. statically typed?

Answer 1

Statically Typed

The types are checked before run-time so mistakes can be caught earlier.

Examples = c++

Dynamically Typed

The types are checked during execution.

Examples = Python