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What's the difference between N-channel and P-channel? Answered

I'm new to the world of electronics (though learning something new every day) and I've seen a lot of references to either N-channel transistors or field effect transistors, but I have been wondering what the difference is?  If someone could explain to me how the two are different in electrical characteristics, as well as in their applications, I would appreciate it immensely.

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N and P refers to the way current is carried in different types of semiconductor. In an N type, current is carried by electrons. In a P type, current is carried by the absence of electrons. "holes". Hole conduction is slower than electron conduction.

Steve

This explains it quite well:

http://www.allaboutcircuits.com/vol_3/chpt_4/1.html