1. Host Memory is the amount of physical memory that has been allocated to a virtual machine
2. Guest memory is the memory usage of a virtual machine.
as per the screen shot ESX host is provided 479 MB of physical memory out of 512 MB which can be used by virtual machine instantly. and Virtual machine requires only 180MB of memory to process its operation which is shown in guest memory tab..
If guest memory show above 500 and host memory show 479.. that means 479 MB physical memory is used and remain is swaped.
Hope this clarifies..
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