Descriptions:

Shot: A shot is a continuous piece of filming without any interruption from the time the camera is turned on and starts filming until it is turned off.

-In general most shots last for no more than about ten seconds.

-The camera or subjects may move during the shot, however the filming remains uninterrupted.

Edit: An edit is a break in the film where one shot ends and the next shot begins.

-The four continuous types of shots are: cuts, dissolves, fades & (occasionally) wipes.