Basic question about volts

From: mike c (mikechambersATgmail.com)
Date: 12/30/04 

Date: Wed, 29 Dec 2004 22:49:50 -0800

First of all, I am completlely new to electronics and have just begun
trying to learn, so I apoligize if this is a super simple question.

I have a power source that is 5 volts. Is this 5 volts per circuit? or
total?

i.e. if I have an LED that uses 2 volts, does that only leave 3 volts
for other items to use? i.e. could I only connect 2 2 volt LEDs?

mike c