Protoplasm : The cytoplasm surrounded by the cell membrane and enclosing the nucleus together constitute the protoplasm. In other words the cell membrane, the cytoplasm and the nucleus constitute protoplasm.
Cytoplasm : It is jelly like substance occupied most of the inside of the cell. It occupies the space between the cell membrane and the nucleus. All the life functions take place in the cytoplasm. It contains many important tiny structures called the organelles, which performs the various life functions.