I wanted to install skype but as I installed the software, it was not correctly installed and gave an error on update that I have to disable third party repository. I want to know what's that mean, how to disable it and doe this effect the system?
You can disable third party repository by following any of two ways:
3rd part repository provides additional packages/software which are generally not available in default Ubuntu repository. So disabling it would not cause any issue.
Reply if something goes wrong..