Aside from readability, interpreted languages do not need to be compiled. I say interpreted, because, not all scripting languages are interpreted - very few are compiled. This means that interpreted languages are: quicker time to develop but slower at execution.
It is generally accepted that interpreted languages are excellent for prototyping larger applications, or 'gluing' compiled parts of a larger application together. Many programs will be written in an interpreted language and then their heavier algorithms will be refactored into a C module (Python for example) that will run much faster.
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