Common Interview Question

In my experience of going through plenty of interviews, I have came across a question that I am reminded of by someone's signature.

The common question in this instance is:
What is the advantage of a cursor over a stored procedure? Vice Versa?

I could only, in my so few experiences, have answered that stored procedure consumes less system resources than a cursor. The advantage a cursor has is record by record examination and looping capabilities.

Needless to say that whenever asked those questions, I haven't landed the position. So I'm wondering, what is the more appropriate answer?