mobile broadband vs. mobile network

obee508

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new to smartphones(used htc incredible from verizon) and my ignorance radiates like a dying sun...
i understand that 'mobile network' in my settings is how i access the web via 3g. 'mobile broadband connect' is the tethering service i believe, so what is the difference between that and 'mobile hotspot'. is tethering when i connect my computer with a wire and it uses the 3g somehow?
 
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