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“Virtual hosting is a method for hosting multiple domain names (with separate handling of each name) on a single server (or pool of servers).”
Wikipedia
How Does Apache Know Which Site to Serve?
The short answer to your specific case: apache will serve the FIRST overlapping virtual host. Since 000-default is before fc.localhost in the alphabet the first virtualhost is loaded and served.
To answer what i assume is the follow up question: You can host many sites on the same IP:PORT using named VirtualHosts
The host field in the http request header identifies which site (virtual
host) to serve:

Matched against the containers in the configuration file

A More Complete Virtual Host Definition
You can put (almost) any directive inside a virtual host container For example, it’s common to write separate logs for each site

Name Resolution
- In the “real world” our East and West sites would each have an entry in DNS (Domain Name Service)
- Our demonstration system uses only /etc/hosts for name resolution:
