They include flat (matte), satin, semi- and hi gloss. It depends on if it is oil or water based. Varnish & stains offer different sheen options, also.
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Exteriors typically call for flat or satin and semi-gloss on trim.
It depends on the paint and the manufacturer. Some flats have a slight matte-like sheen, however, in a paint line the matte sheen should have a higher sheen than the flat version, but a lower sheen than the eggshell version.
As long as they are the same base you can do that.
Base paint is also known as flat paint, or flat wall paint, or matt paint and is a latex paint. Flat paint is just that, flat or dull with no sheen at all. Semi-gloss is an enamel that dries very hard and can be found in a low sheen (satin) a medium sheen (semi-gloss) and a high sheen (high gloss) Flat paint is usually used on walls and ceilings where as semi-gloss is used in kitchens, bathrooms, doors an jambs because it helps hold back the inherent moisture in those areas.
Use a sealer if the drywall was damaged while removing the wallpaper, then use a high quality latex paint in the sheen of your choice.