Final answer:
An open bar allows guests unlimited access to a wide range of alcoholic beverages at an event, while a set-up and limited bar offers a pre-determined selection of drinks for guests to choose from.
Step-by-step explanation:
An open bar refers to a type of bar setup where guests have unlimited access to a wide range of alcoholic beverages, with no restrictions on the types or quantities they can consume. It is typically found at events such as weddings or corporate parties, where the host covers the cost of all the drinks.
On the other hand, a set-up and limited bar refers to a bar setup where the host provides a pre-determined selection of alcoholic beverages for guests to choose from. The options are limited to a specific list, and guests may be offered a certain number of drink tickets or tokens to exchange for drinks.