Time Complexity: The time complexity of an algorithm quantifies the amount of time taken by an algorithm to run as a function of the length of the input. Note that the time to run is a function of the length of the input and not the actual execution time of the machine on which the algorithm is running on.

Space Complexity of an algorithm is the total space taken by the algorithm with respect to the input size. Space complexity includes both Auxiliary space and space used by input.

Greedy Approach: Greedy is an algorithmic paradigm that builds up a solution piece by piece, always choosing the next piece that offers the most obvious and immediate benefit. So the problems where choosing locally optimal also leads to global solution are the best fit for Greedy.

Dynamic Programming is mainly an optimization over plain recursion. Wherever we see a recursive solution that has repeated calls for same inputs, we can optimize it using Dynamic Programming. The idea is to simply store the results of subproblems, so that we do not have to re-compute them when needed later. This simple optimization reduces time complexities from exponential to polynomial.