What is the difference between a phrase and a clause? I tried looking this in dictionary but can not identify the difference. It would be great if I could get an example and formula of what makes a phrase and a clause.
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The short answer: clauses contain a subject and its verb, while phrases do not. Note that phrases may contain nouns and verbals, but won't have the noun as the verb's actor.
The long answer: see this page from the University of Chicago which has several examples.