This is how a new team site looks like:
A site can also have sub-sites. For example, the information technology department may have a site and then have sub-sites for each team in the department. One for application development, network and communications.
Creating a Site
To create a site, click the 'Site Actions' box at the top-right side of the page and click the 'Create' option
Select the 'Sites and Workspaces' link on the following page.
On the following page you'll enter information for the site such as the title, description and the type of site.
You can choose from a variety of site templates. Each template has it's own configuration of pages, libraries and lists. The 'Blank Site' is empty and you have to add components after creating a site from it.