Difference between Groups & Lists in FaceBook?

[Jignesh]

I understand I can put my friends in Lists or Groups in FaceBook . For e.g. , Family ,Acquaintances , School Friends , etc . Again in Lists , Facebook has something called SmartLists that auto-update themselves .

What would be the differences (For e.g. in my News Feed) if :-
(A) I put all my friends in one or the other self-created "Lists" or "Smart Lists"

(B) Instead of using Self-created Lists & Smart-Lists , I create various Groups & put all my friends into one or the other of these groups ?

[john]

Lists are an optional way to organize your friends and the things that you're interested in so that you can sort your news feed and reach (or exclude) specific people when you share things on Facebook. Your lists are unique to you. With lists you can see what's going on with all of your favorite sports teams or announce a garage sale to all of your friends in your current city.

Groups are communities for you and other group members to discuss common interests. Groups are shared spaces, so your soccer team can plan the season's roster together and share each other's photos from the championship.