Volume group
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Volume Group (VG) is the highest level abstraction used within the Logical Volume Manager (LVM). It gathers together a collection of Logical Volumes (LV) and Physical Volumes (PV) into one administrative unit.
A volume group is a collection of physical (local or remote) volumes from which a logical volume (essentially a partition) can be created.
[edit] External links
http://www.redhat.com/docs/manuals/linux/RHL-9-Manual/custom-guide/ch-lvm-intro.html