Any portion of the flight between and up to any two cities would be referred to as a leg. A leg can also refer to an entire flight. Since airlines make multiple flights a day with the same aircraft, each flight can be identified as a leg.
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A flight leg in the air industry is a flight from one airport to another under the same flight number, with the same aircraft, and no stops in between.
A leg is a single one-way journey from point A to point B. While a leg can make up the entire journey, the term is usually used to refer to a single part of a larger trip and to mean that a certain flight was only part of a longer flight plan.
If you are flying within the USA and have no checked baggage to a final destination, then skipping the final leg of a journey is usually fine. There's no penalty for cancelling (as the missed leg is the end of your trip), and you can just leave the flight with hand luggage without any worries.
It makes sense, because the practice saps revenue from them on two fronts: Not only do passengers underpay — potentially by hundreds of dollars per ticket — but the seat on the tossed leg also could have been sold to someone else. Most contracts of carriage from major airlines expressly forbid skiplagging as a result.
During domestic layovers, you are free to leave the airport. If your domestic layover is longer than one hour, you should expect to receive two boarding permits. If you want to check out local points of interest, make sure you get your second boarding pass and print it out before you leave.
While not illegal, intentionally skipping segments on an itinerary does almost always violates airlines' contracts of carriage. For example, American's contract of carriage says this: Reservations made to exploit or circumvent fare and ticket rules are prohibited.
While some airlines require a third pilot for flights longer than seven hours, others may extend it to 10 hours. If the flight is longer than 12 hours, a fourth pilot (second officer) is required.
Indeed, pilots flying long-haul only operate one or potentially two flights each day, while those making short hops can even operate as many as four to five flights a day, and a turboprop pilot will operate even more.