What Are The Differences Between Earth, Neutral, And Live Wire?

The main differences between earth conductors, neutral conductors, and live conductors are:

The live conductor carries current at full load, while the neutral conductor carries current only when the loads are unbalanced.
The neutral wire is grounded at the network panel, and the ground wire is called ground because it is physically grounded (via water pipes or a metal rod).
The live wire is usually red and at high voltage, while the neutral wire is black and has a voltage close to the ground.

Earth wire provides safety against faults and current leaks, and is usually green and yellow.