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To understand more about what’s going on with files and directories, it helps to understand the Unix model of files and directories, even if your non-Unix system doesn’t work in exactly this way. As usual, there’s more to the story than we’re able to explain here, so check any good book on Unix internal details if you need the full story.
A mounted volume is a hard disk drive (or something else that works more or less like that, such as a disk partition, a solid state device, a floppy disk, a CD-ROM, or a DVD-ROM). It may contain any number of files and directories. Each file is stored in a numbered inode, which we can think of as a particular piece of disk real estate. One file might be stored in inode 613, while another is in inode 7033.