Formative versus Summative Assessment

During the course of English 10, I will be conducting two methods of assessment: Formative and Summative.  You may or may not have heard of these forms.  It would be in your best interest to understand what each means and how these assessment impact you.  For this week's conversation, please find the meaning of each and IN YOUR OWN VOICE, write what each means and reflect (write it down) how each will impact you!