Answer Description

A WAP's (Wireless Access Point) name is known as an SSID. Disabling SSID Broadcast allows you to hide the name of your access point. This does not truly secure your WAP, it should be used in addition to encryption and access control.

Wikipedia

In IEEE 80211 wireless local area networking standards (including Wi-Fi), a service set is a group of wireless network devices which share a service set identifier (SSID)—typically the natural language label that users see as a network name (For example, all of the devices that together form and use a Wi‑Fi network called Foo are a service set) A service set forms a logical network of nodes operating with shared link-layer networking parameters they form one logical network segment A service set is either a basic service set (BSS) or an extended service set (ESS) A basic service set is a subgroup, within a service set, of devices that share physical-layer medium access characteristics (e