This document discusses virtual memory and demand paging. It explains that virtual memory separates logical memory from physical memory, allowing for larger address spaces than physical memory. Demand paging brings pages into memory only when needed, reducing I/O and memory usage. When a page is accessed that is not in memory, a page fault occurs and the operating system handles bringing that page in from disk while selecting a page to replace using an algorithm like FIFO, LRU, or optimal.