LCD Means Liquid crystal display

TFT means Thin Film Transistor Liquid Crystal Display.

What I think you mean is Active and Passive matrix LCD panels. This is where there is a difference in price. A typical active TFT panel capable of resolutions of just 1024x768 is made up of nearly 2.5 million transistors (commonly known as small 3 legged lumps of silicon found in TV's and most other electronics) eccept in this case, the transistors are etched onto glass, to microscopic precision hence the name "Thin Film Transistor". A normal LCD basicaly has two layers of glass, one with rows, one with columns, this makes up a grid that can be referenced to control each pixel. The control is done with an IC (integrated circuit or silicon chip) on the LCD's circuit board/s. TFT's tend to be quicker ( response time) and nicer to look at in general.