A family of Microsoft word processing software products for creating web, email, and print documents.
While you can achieve "2 pages per sheet" through the Page Setup dialog (see http://wordfaqs.ssbarnhill.com/2PagesPerSheet.htm), you have to create full-size pages and print them reduced through the Print dialog in order to achieve more.
At Mailings | Create | Labels | Options, if you select "Microsoft" as the vendor, you can choose between Portrait and Landscape versions of "1/4 Letter," which will divide your page into four "pages," but it achieves this (as with any other label) by using a table, so it is entirely different from the "2 pages per sheet" option in Page Setup dialog, which actually creates two logical pages on one physical sheet, which can be handled just like real pages, with header, footer, page numbering, and text flow.