Explain What is the difference between "PickList Generic" and "PickList Hierarchical" Business components?

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"PickList Generic" BC is used for Static Picklists. "PickList Hierarchical" is used for Hierarchical PickLists

"PickList Generic" BC and "PickList Hierarchical" BC are used for Static PickLists.
"PickList Generic" BC: This is used to store values which are not dependant on any other values.
"PickList Hierarchical" BC : This is used to select values based on the values selected from other field.
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