OK, I guess they are kinda similar. Hooks are page specific, although sometimes the hook is in a page that is run on several pages (like if the hook is in global.php). Like, if you hooked into the hook "member_start" then you are adding code to the beginning of the member.php page, so it only gets executed then. If you hooked into the hook "global_start", then you are adding code to the global.php page which gets executed on nearly every page.
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