SharePoint sites and workspaces store virtually all information and content in lists. Many lists are available right out of the box, and SharePoint gives you the ability to easily create custom lists based on your specific criteria or even by importing a spreadsheet. A SharePoint list is similar to a database table and can contain either no records at all or a large collection of records with one or more fields. A list can record any combination of fields you wish to configure. Microsoft’s technical description of a list is a collection of items displayed on a site.
A new team site automatically contains the following lists:
Announcements. Record informative messages for display on the site’s home page.