Pages = content. Multiple pages can make up a single page and you'd never navigate or see the "pages" that make up the main page. How you display the pages/content is where it differs.
Kentico is driven by page types so you will find "content" or page type filters in almost anything displaying data. Within the Google Sitemap XML webpart, there is a Content section, this is where you filter out what shows in your sitemap. Same is true for the search results. When you create your smart search index, you define what page types you want to index and search for.
There are many approaches to using "global" content. One thing I like are linked documents. This allows you to create a page/document/content in a single location and create a link to that main document while placing it within another node in the content tree.
For instance what I've done in the past is created a custom page type called Call To Action (CTA). This has a few fields, Name, Title, Content (simplified). I then create a folder at the root of the content tree: /global content. In there create a new CTA and fill out the fields. Then say your page template for the home page has a repeater on it that is set to display all the CTA's below the /Home page. What you can do under the /Home node is create a new page and in the list, select the very bottom option to Link an existing document and select one from the /global content directory. Your home page will now display that document.
The great piece behind "linked documents" is that no matter where within the content tree these documents are, if you edit it in one place, it updates all instances of it, therefore creating your "global" content.
Hope this example clarifies a few things.