Definition: Waxing affects to all that hair that can be find on the surface of the skin. A good way to wax is actually to shave. Another popular way is to use chemical peels, which work breaking the links of the disulfures which link the protein chains that with strenght to the hair, causing it to desintegrate.
Waxing has been performed for centuries in almost all human cultures. The most used methods change depending on timing and region, but shaving has always been the most common way.
Usually, hair is removed for social and sexual reasons related with its role in human society. Lots of cultures have an "ideal" amount of hair for both men and women. Those persons who's hair dowsn't follow the prescription may experience problems to be socially accepted, being considered dirty women and men.
During the 20th centur, in some cultures, specially the western ones, to wax all the body hair became more and more popular. It was specially focused on waxing the whole pubic area, because it was considered ugly and not feminine at all and a practice of good hygiene. Women could also shave their pubic hair for aestetic or sexual reasons.
Porn actresses are a good example of this practice, even though the 80's movies with pussies full of hair were really appreciated and common. Men can also wax, but it's not so common. In a sexual environment, removal of pubic hair is due to the increasing of the visual exposure of genitalia and/or to make access to the vagina easier, removing all the hair barrier, as well as for hygienic reasons.