as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
identify words which are commonly confused and explain the difference between them
user
two commonly confused words are 'affect' and 'effect', with 'affect' being a verb and 'effect' being a noun. 'affect' means to influence or bring about a change in, while 'effect' is a result or consequence of an action. for instance, excessive smoking can 'affect' your health, and the 'effect' of this can be lung cancer.
assistant