Shared hosting is where you can share the servers resources with other clients but have your own independent site and control panel, this would be classed as "normal" hosting and is how the vast majority of sites on the internet are set up, it is cost effective and gives you access to features that would otherwise be too expensive.

All our shared clients get real bandwidth and space we do not subscribe to the overselling method which is endemic in this industry, servers are populated to allow for growth without infringing on other clients