If u r using 2 or more PC at home & u want to access Internet from both theses PCs than either u can assign local IP adress manually or by using DHCP.DHCP dynamically allocate IP address to all the PCs.Manual assignment r easy for small network But if u r working on big network than manual assignment is very difficult.u can assign IP address if u r using windows 2000.if DHCP server exist over the network than it dos not assign address but if not there than it will allocate address of class B type starting with 169.254.*.*.
This is very helpful for network administrator because PCs over network always faces some problem so very time going to desk is very difficult & even waste of time.
For more information regarding this topic,u can reference from here.
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