What is inbound and outbound links?

Here's an even more detailed explanation about those links you mentioned. As most people have replied here, inbound links the ones pointing to your site, and the outbound links are the ones coming from your site pointed to another. These links have "value" which a lot of SEO people call "link juice". That said value is passed to a site if the link is a "dofollow," a term used to describe the opposite of the rel="nofollow" attribute of the <a> HTML tag.

Inbound links or commonly known as “backlinks” are the links pointing to your site and search engines like Google like it when you have thousands of links pointing to your site but sometimes Google penalizes you for it too if you have poor quality and irrelevant backlinks pointing to your site.

These are the links pointing to other websites from your website and you have more control over these links. People have different views about outbound links and many say that it is against the SEO rules and search engines can penalize you for doing this.

Originally Posted by appdeveloper

Well I think about a link which is going to other site from our site is called outbound and a link which is coming from other site to our site is called inbound.

yes you are right nicely explained in simple words. Too many outbound links are not good because it may divert your visitors and crawler too from your website to some other website.

Link that come on to your site is known as Inbound link. Where a link that bounce towards others website is known as outbound link. Inbound links are generally backlink of your website used to increase SERP.