Creating a new page essentially means that you create a new button. Where the button is placed is up to you! You can choose the order the buttons are displayed, the type of page you want, the location of the button, and determine the content within the page.
You also can choose whether to allow comments at all, make a page that only your friends can see, or make the comments only accessible to your friends! These options are displayed below:
The other options on the "Create a Page" screen are explained further by clicking the links above or selecting the buttons on the submenu off this button.