A volume license is, as the name suggests, a license quota for several computers. Volume license products are not tied to a specific system. As a private user, you will usually not be able to install Microsoft products on a large number of PCs or MACs, so you usually choose an OEM license.
A volume license is particularly interesting for you if you want to equip several workstations with Microsoft software, e.g. in your company. You can then use a volume license for e.g. Office 2016 Home & Business for several PCs or Macs and benefit from easier handling and lower prices. Find out more in our blog.