hola, si. Significa : entendido!! o si se planea algo cuando te dicen "listo" es para dejar claro que asi va hacer!

"Listo" translate in english: Ready or Ok. Is very comun used this expression, all depent of teh contex. In this case is iqual to "ok"

Do you want practice your spanish? I want practice my english. What do you think?

La palabra "listo" puede tener múltiples significados, algunos de estos son: inteligente, preparado o terminado. Yo la uso muchísimo sobretodo cuando hago un acuerdo con alguien:

-¿Nos vemos hoy en la tarde?

-Listo.

Con eso quiero decir que estoy de acuerdo, y que sí nos veremos por la tarde.

Espero haberte ayudado.

We answer "listo" for some request for us and it had completed the request.

for example:

can you check your speakers? answer: listo

could you turn on your camera? answer: listo

and we answer 'Entiendo' when someone explain you something and you catch the idea or understand.

for example:

you need to clean your room if you want to go out. answer: Entiendo

your computer is very hot because the fan is not working. answer: Entiendo

do you understand this explication? answer: Entiendo