i have a reseller account at resellerzoom.com, it uses a Shared IP address. But if you only have 1 domain, would it be consider a Dedicated IP Address? They offer $2/month for a Dedicated IP Address, but i only have one domain at the moment. So that means if i only have 1 domain name on my reseller account, that would be consider a dedciated ip address right? or should i add $2/month for the dedicated ip addres?

you don't really need a dedicated ip for your site. I think your using shared ip now. If you want to get dedicated ip, might as well go for nameserver too

what's a nameserver used for?

http://www.google.com.sg/search?hl=e...ine:Nameserver

You can check it here