Final answer:
The Biological Species Concept (BSC) defines species based on reproductive isolation and genetic exchange, while the Phylogenetic Species Concept (PSC) defines species based on evolutionary relationships and shared unique characteristics.
Step-by-step explanation:
The Biological Species Concept (BSC) defines species based on the process of speciation, specifically whether organisms are capable of interbreeding. This concept focuses on the reproductive isolation and potential for genetic exchange. On the other hand, the Phylogenetic Species Concept (PSC) defines species based on the evolutionary consequence of speciation, using shared unique characteristics as a basis for species identification. PSC focuses on the evolutionary relationships and genetic similarities between species.