Yes.
With a dynamic load library, a subroutine is loaded from the library into main memory only when it is needed by a program running on the computer system.
Several programs might share the same subroutine by having its entry point in their jump tables. By sharing subroutines, programs can share and coordinate system resources.
For example, nearly all programs interact with the user by using the resources of the windowing system. The windowing system is managed through dynamically loaded subroutines that are shared by the programs.
If you followed the above discussion you will have (I hope) a better idea of how this works. The idea has been around since the middle nineteen sixties.
Object oriented programming has recently become very popular.
(Review of OOP: ) What is an object?