I dont know much about hosting but ill tell you the basic stuff I know

A VPS in like a refrigerator where you have your own space but you share it with 15 other fats kids.

A dedicated server is a refrigerator that is only yours and you can put your cake and no one else can eat it.
This deserves a screenshot and placing it on my sig.

Seriously bro, the best explanation ever (honestly!) thumbs up for you!

regards,
Ryan