Inbound links and outbound links

What is the difference between inbound links and outbound links?

Inbound links (also known “back links”) are links that are directly pointing towards your website and web page’s. Search engine spiders crawl these links and appropriate a ranking based on a variety of factors, namely the quality of the incoming link, but also a slew of other metrics.

Outbound links are the links pointing to other websites from your website