Web Site VS Web Application

There is very big difference between Web Site and Web Application, some points are given below, but there is no difference in speed or performance between both of them.............

Web Site

1. Web Site is just one folder which contains the files and resources
2. Web Site is open using browser from Visual Studio

Web Application

1. Web Application creates one solution file which may contain multiple projects in it
2. If you are working on 3-tier or n-tier application then this type is good
3. It is easy to maintain, its movable and it contain file in DLL format
4. All files are compiled in .dll file on time of deployment