Host
The physical computer that contains one or more virtual machines
Guest
The VM or virtual machine; this is a software representation of a physical machine.
Hypervisor
Software used to create and manage virtual machines.
Type 1 Hypervisor
Also called a native or bare-metal hypervisor, this runs directly on the hardware without needing an operating system.
Type 2 Hypervisor
This type of hypervisor runs on top of an existing OS on the host machine.
Containers
Containers allow the user to install only the components necessary for a specific application; this reduces the size and makes applications faster since the entire operating system may not need to be installed.