Understeer, also known as push, occurs when you turn the car's front wheels, but the car doesn't follow -- the front wheels slip and the car just continues going in the same direction, usually forcing you to slow down to put weight on the front wheels in order to help them grip. Understeer, naturally, is the opposite of oversteer.
In this video watch the leader in the green car as their car pushes in the last turn before the straight, letting the 2nd place car make up some time. You can see the front wheels turned to the right while the car continues to go straight:
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