What is the difference between position vector and displacement vector?

Position Vector gives the position, i.e., location or coordinate of the particle with respect to reference point called origin along with its direction with any reference axis such as X-axis. In contrast, displacement vector gives the shortest distance of the particle from its' start point to endpoint along with its direction with any of the reference axis say X-axis or with any fixed direction say North.

The position vector is a coordinate of an object in a plane or space concerning origin and direction is directed from the source toward the coordinate. Whereas Displacement vector is the shortest distance between the initial and final point of a whole continuous motion, and direction is from starting point to endpoint. 

The displacement vector is the difference between the two-position vector. 

Positon vector is used to locate an object in space or a plane. 

The position vector of a particle is defined as the vector starting from the origin to the point where the particle is. The displacement vector of a particle is defined as the vector joining its initial position to its final position. In other words, the displacement vector is a change in position vector.

The position vector is the distance between the starting point to the position of the object while the displacement vector is the length between the initial point to the final point. 

The displacement vector is always a position vector, but the position vector doesn't need always to be a displacement vector; it may be or may not be according to the conditions.

The position vector is a vector that extends from a reference point (usually taken as the origin of the coordinate system) to the object whose location has to be determined. As the object moves, its position changes with respect to time. The displacement vector is the difference in the final position vector and initial position vector.