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PAL and NTSC are simple standards for video frame rates. NTSC shoots the standard 30 fps frame rate, while PAL is 25 fps. Most United States and European TV sets will most likely convert your video to a compatible frame rate before displaying.
Shooting 24p is better thought of as a down conversion from the standard rates of 30 and 60 frames that camcorders can record in. 24p can be thought of as achieving a special motion affect (e.g. imitating an old time scene), but does not “enrich” the quality to make video look like film. Film has many advantage, such as light sensativity and shallow depths of field. People often get the idea that shooting 24p advances video toward looking like film. Film has its advantages, but proves its worth by the least amount in terms of frame rate. I’d take a look at this article first. My advice is not to shoot at 24 frames unless it’s an essential rate that’s demanded by your boss.