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What is the difference between tomato sauce and tomato paste?

We'll get the obvious out of the way; one is thicker (and more concentrated) than the other. What else? If I add a liquid to tomato paste, is that the equivalent of tomato sauce?------------------------------------------------------------------------------------------------------------

Tomato sauce is a tomato-based cooked sauce used directly on or in food in the form in which it will be served. Tomato sauce is made from tomato concentrate (a.k.a. tomato puree or tomato pulp, containing 8% to 24% tomato solids, excluding seeds and peel), and usually containing flavorings such as salt, onion or garlic powder, herbs and flavorings. The cooking process is relatively brief.                                        
Tomato paste is a very thick product containing not less than 24% tomato solids, used to add intense tomato flavor to foods. Unlike tomato sauce, tomato paste is almost always used only as a primary ingredient in further cooking. As with sun-dried tomatoes, the taste can have a tartness not usual in fresh or lightly-cooked tomato products.
Industrially-produced tomato pastes have more moisture than the traditional, artisanal product, and often have undesirable flavors or taste overtones. The cooking process, especially if the heat is high enough, changes the flavor and color so that adding water will produce something differing from tomato sauce; For example, addition of sugar, vinegar and flavors produces ketchup. =======================================================================
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