ponyboy does not like dally, but he respects him because he is “smart.” what does ponyboy mean by “smart,” and how does it differ from pony boy’s own intelligence?

Dally is "street smart" where as Ponyboy is "book smart". Dally has been to prison and is a survivor in a tough world. Ponyboy respects Dally's ability to fend for himself while being loyal to the people he cares about like Johnny.