In general the term "conservative" generally means the side of an issue which tends to resist change, and "liberal" generally means the side which embraces change. Someone with a "moderate" position tends to take each question on its own merit and resist excesses in either direction.
This is by no means completely accurate, and notice I say it applies to each issue. Staying within the demogame, I'm a conservative with respect to the chat (my views lean towards keeping the tradition of the chat alive), a liberal with respect to coming up with new offices such as a designated DP who does not hold another office, and believe it or not a moderate with respect to the overall government style. A true liberal on government style would refuse to even consider returning to the traditional style, where my position is that I can live with and work within either extreme, and would prefer something in the middle.