Table-space is a physical concept.it has pages where the records of the database is stored with a logical perception of tables.so tablespace contains tables.
A logical portion of a database used in allocating storage for table data and table indexes.
A tablespace is a logical structure that contains segments. Rollback data and index are the three types of segments created inside a tablespace. Each segment is made up of extents and the extents are comprised of data blocks.
The system tablespace contains the data dictionary for the Oracle database.
In oracle data is stored in datafiles its contain the table space its logically to store the data in table space.there are system tablespace user tablespace to stored the user data undo table space for undo and temporary table space for the index.
A tablespace is an area of disk comprised of one or more disk files. It can contain tables indexes or clusters. One or more tablespaces make up a database. It can get full as records are added to tables but a DBA can expand the tablespace by adding files or extending the datafiles.