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Describe the difference between standard and custom components.

Standard components (fields, objects, etc.) are those that are included with your Salesforce org (e.g. the lead object is a standard object, as it was included with Salesforce).

Custom components are those that are added by an administrator or an AppExchange package.

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What’s the Difference Between Standard and Custom Objects?
Short
Salesforce.com
Standard objects, such as accounts, contacts, or opportunities are included with Salesforce by default… The Salesforce administrator defines custom objects and their properties…

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