Well i have been using tfs since few months surprisingly got question like “What is Workspace in tsf ?” asked few of colleague to get their view who all are in tfs zone since long period got different  answer like and checked on Google see what it say…

ANS : A workspace is your client-side copy of the files and folders on the source control server
http://msdn.microsoft.com/en-us/library/ms181383(VS.80).aspx

saw a nice post on workspace…check it out…
http://www.woodwardweb.com/teamprise/workspace_101_a.html

How to: Create a Workspace
http://msdn.microsoft.com/en-us/library/ms181384(VS.80).aspx

Cheers…

Suresh Behera