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Please check below below vedio.https://www.youtube.com/watch?v=fUD4MzgA0gkhttp://certifiedondemand.com/lookup-or-master-detail-relationship-in-salesforcehttp://www.salesforcetutorial.com/object-relationships-in-salesforce/What is a “Lookup Relationship”?Up to 25 allowed for objectParent is not a required field.No impact on a security and access.No impact on deletion.Can be multiple layers deep.Lookup field is not required. What is “Master-Detail Relationship”?Master Detail relationship is the Parent child relationship. In which Master represents Parent and detail represents Child. If Parent is deleted then Child also gets deleted. Rollup summary fields can only be created on Master records which will calculate the SUM, AVG, MIN of the Child records.Up to 2 allowed to object.Parent field on child is required.Access to parent determines access to children.Deleting parent automatically deletes child.A child of one master detail relationship cannot be the parent of another.Lookup field on page layout is required.Please check below post for Type of relationshiphttps://help.salesforce.com/HTViewHelpDoc?id=relationships_considerations.htmhttps://help.salesforce.com/HTViewHelpDoc?id=overview_of_custom_object_relationships.htmhttps://developer.salesforce.com/docs/atlas.en-us.api.meta/api/relationships_among_objects.htmPlease let us know if this will help youThanksAmit Chaudhary
