The Page Status menu (1) determines if the page will be published the next time the Publish button is clicked. Active pages are always published. By default, all pages are set to Active when they are created. Inactive pages are not published and any previous versions are removed from the active site i.e. they are not visible outside of the site editor. Draft pages are not published but any previously published version of the page remains visible.
Note: The home page is always published and cannot be set to draft to or inactive.