VIRTUAL GROUND:-
1]If the non-inverting (+) terminal of OP-AMP is connected to ground, then due to the "virtual short" existing between the two input terminals, the inverting (-) terminal also be at ground potential. hence it is said to be as "virtual ground".
2]similarly if the inverting (-) terminal is connected to ground, then the non- inverting (+) terminal will be at "virtual ground" potential.
3]The concept of virtual ground has been used extensively for amplifier analysis, specially we use this concept in the inverting amplifier.
VIRTUAL SHORT:-
1] The input impedance (Ri) of an OP-AMP is ideally infinite. Hence current "I" flowing from one input terminal to the other will be zero.
2] Thus the voltage drop across Ri will be zero and both input terminals will be at the same potential. In other words they are virtually shorted to each other.