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like aquila said, you can use these effects as inserts or fx sends. you would want to use them as fx sends if you plan on using them for more than one instrument. for instance, a reverb for your drums. obviously, you would want to use the same reverb for all of them. however for things like synths, guitars, vocals, fx... a lot of times you may want an effect very unique to that one thing... like a huge reverb for an explosion, or a fine tuned delay for a guitar that you know you won't use on any other instrument, in which case you could just insert the effect on the instrument.
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