This document discusses virtual memory and demand paging. It begins by explaining that virtual memory separates logical memory from physical memory, allowing for address spaces larger than physical memory. It then describes demand paging, where pages are only brought into memory when needed, reducing I/O and memory usage. The document also covers page faults, valid-invalid bits, page tables, and techniques for handling page faults like page replacement when no free frames are available. It analyzes algorithms like FIFO, optimal, and LRU for page replacement and their performance based on reference strings.