What is Shared Hosting ?
Its a web hosting service where many websites reside on one web server connected to the Internet. Each site "sits" on its own section/place on the server to keep it separate from other sites. This is generally the most economical option for hosting as many people share the overall cost of server maintenance.
In general shared hosting will be inappropriate for users who require extensive software development outside what the hosting provider supports. Almost all applications intended to be on a standard web server work fine with a shared web hosting service. But on the other hand, shared hosting is cheaper than other types of hosting such as dedicated server hosting.