What is the difference between Internal and inbound links?

Inbound links are also called backlinks, and backlink actually is the more popular name. Backlinks help build your website reputation on the Internet, increase chances Search Engine find your website and is one of the most important factors in SEO.
Internal links help Search Engine and visitors move on your website easily, and help build trust for your website too (not as strong as good backlinks but it's safe, no worry about penalized)
 
Internal links are referred to the links added from content of the website's internal pages, e.g. the content of about us page may have link to product page you sell. In other words, you are cross linking your website pages from content of the pages. If you open any page of Wikipedia, you can notice many links are available on the page links to other pages of Wikipedia. This website is a great example of building internal links.

Inbound links are those links that you get from others' websites, e.g. I own a website domain.com and on a page of this website, I've added a link pointing to your website. this will be called inbound link. There are also known as Backlinks, Inward Links, etc.
 
Internal Links:

Getting the back link from your website inner pages.
Eg: You website home page getting one back link from your website contact us page.

Inbound Links:

Getting the back link from other website.
 
Internal links are those that point to internally to your other webpages in a single domain. Inbound links are those links that point to your website pages from external domains. The more the inbound links, the more authority the website gets and helps to drive traffic.
 
Internal links are links on a page on your site that go to another page on your site. Inbound links are other websites that link to your content.

OP, the subject should be "The difference between Internal and inbound links" and not "What is the difference between Internal and inbound links?".
It looks like you are asking a question yet you've answered it yourself.
 
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