Apache virtual hosts allow you to host multiple websites (like domain1.com and domain2.com ) on a single physical server, sharing one IP address. This is common for running several projects on one VPS or local machine.
Apache Virtual Host Example This document attempts to answer
A standard configuration for a "name-based" virtual host typically looks like this: Apache Virtual Host documentation
The term Virtual Host refers to the practice of running more than one web site (such as company1.example.com and company2.example. Apache HTTP Server