what does the zip function do in python code example

Example: python zip function

>>> letters = ['a', 'b', 'c']
>>> numbers = [0, 1, 2]
>>> for l, n in zip(letters, numbers):
...     print(f'Letter: {l}')
...     print(f'Number: {n}')
...
Letter: a
Number: 0
Letter: b
Number: 1
Letter: c
Number: 2