Microsoft Office SharePoint Server 2007 for Internet sites and Microsoft Office SharePoint Server
2007 have identical feature functionality. While the feature functionality is similar, the usage
rights are different.
If you are creating an Internet, or Extranet, facing website, it is recommended that you use
Microsoft Office SharePoint Server 2007 for Internet sites which does not require the purchase
client access licenses. Websites hosted using an "Internet sites" edition can only be used for
Internet facing websites and all content, information, and applications must be accessible to nonemployees.

ASP stands for Active Server Pages. ASP is an open, compile-free application environment in which you can combine HTML, scripts, and reusable ActiveX server components to create dynamic and powerful Web-based business solutions. Active Server Pages enables server side scripting for IIS with native support for both VBScript and JScript. ASPs are Web pages that contain server-side scripts in addition to the usual mixture of text and HTML tags. Server-side scripts are special commands you put in Web pages that are processed before the pages are sent from the server to the web-browser of someone who's visiting your website. All ASP pages are given a .aspx extension. The servers that support ASP are Internet Information Server (IIS) & Microsoft Personal Web Server. Unline normal HTML pages you can view ASP pages without running a web server. When a ASP.net page is compiled it's translated into MSIL.

FIRST CREATE THE NEWFOLDER IN THE ANY OF THE UR SYSTEM,THAT
IS THE UR ORIGINAL ROOT FOLDER.
goto
start-->run--.type INETMGR--->GOTO DEFAULT WEBSITE-->RIGHTCLICK-->GOTO NEW-->SELECT NEW VIRTUAL DIRECTORY-->GIVE THE ALIAS NAME OF THE ROOT->CLICK
NEXT-->GIVE YHE PATH OF THE ORIGINAL DIRECTORY-->CLICK NEXT--> CLICK FINISH--->VIRTUAL WILL BE CREATED

If the site is already existing then you simply open IIS manager, go to the site for which you need to create the
virtual root [ virtual directory] Browse to that folder under the site, right click > properties > and Select create
application.

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Browser gives a DNS request to the DNS server to resolve the name of the website. The DNS request may be a TCP or UDP request to the DNS server. 
After the IP address is recieved, the browser makes a socket connection with that IP Adress and port 80 ( if explicit port not given).
Now a Http GET request is fired by the browser on that socket connection and when the response starts coming it parses it and shows it on the screen.
Note depending on the content of the first response , multiple sockets might be open to retrieve embedded images and objects in the same page.