Let me tell you about this new web host called IntelWeb, I've been using it for some time and they have announced a deal that is exclusive to FP users. You can get their guaranteed lowest price with the same reliability and stability as many of the other major brand name hosts. They offer 24/7 support, the latest and greatest cPanel, and if your not satisfied you have a 90-day money back guarantee!
The price for hosting : $3 A YEAR! Why pay over $1 MONTHLY when you can get hosting for only $3 A YEAR?
I don't work for this company, if you might ask. I am recommending them, and promoting their resent sale that they have offered.
To answer your question, disk space is the amount of space that a hard drive can hold (storage space) & transfer is the rate of how fast or much you can transfer those files. (I am not a genius, correct me if I am wrong)
Also, if you're worried about the disk space, they offer a option to increase the disk space at anytime and make the plan suitable just for you. If you purchase it and don't like it, the 90 day money back guarantee is always available.
Their webhosting plans are very limited. Still, for what you pay per year, there are much more cheaper providers giving you more bang for your buck.
10-100 MB of disk space is extremely limited, and if you choose any of their plans that offer more than that, it is still considerably more costly than some of the other hosting providers.