google chrome cookie

Hi,
I have a quick question. Under Google Chrome cookie setting, when I turn off "allow sites to save and read cookie data", does it mean all sites are off?

The reason I asked is because when it is off, I can still turn on and off "block third party cookies". What does it mean?  (sorry)  thanks
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mcrmgAsked:
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James BunchSystems EngineerCommented:
By default it prevents cookies from saved on all websites. You can allow them manually on a per issue basis and some sites require cookies to be able to use their services. Its basically a history of your browsing that websites and plugins use to track for advertisements etc.

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