The answer is: it depends.
In the normal TeX state, consecutive spaces in input are reduced to a single space token.1 See the referenced thread for more information about tokens and how TeX forms them from the input file. In what follows I'll distinguish between space character (SC) and space token (ST): a SC is what's found in the input file, a ST is the TeX internal object that might be produced by a SC during tokenization.
A consequence of the tokenization rules is that consecutive SCs in input are either reduced to a single ST or disappear altogether (leading SCs in a line). Thus inputs such as
end of. Sentence
end of. Sentence
end of. Sentence
will give the same output, provided they are read in under the normal state, that is, when the SC has category code 10.2
Caveat. In an input such as x {} y, there are no consecutive SCs. This would be tokenized, under normal settings, as
x11 ST10 {1 }2 ST10 y11
In some contexts the SC is given a different category code, which of course change what happens during tokenization: the rules about reduction only hold when the SC has category code 10.
In principle one could assign the SC any of the sixteen category codes; if it is assigned category code 11 or 12, the effect of a SC would be to print the glyph in position 32 of the current font. The following simple plain TeX example
\catcode` =12 abc def ghi\bye
produces

because the cmr10 font contains, in slot 32, the slash for producing ł, the Polish “suppressed l” (in inner circles the glyph is called lslashslash). Exercise: why doesn't the space after 12 yield an lslashslash?
More sensible changes are giving the SC category code 13 (active) or 9 (ignored). The former is the case of \obeyspaces, which is included in the settings for verbatim output. Basically \obeyspaces consists in declaring the SC to have category code 13 and so when a SC is encountered, it will behave like a macro and expand according to the current definition for it. The standard definition for the active SC is to yield a ST10
% latex.ltx, line 116:
\def\space{ }
% latex.ltx, line 558:
\def\obeyspaces{\catcode`\ \active}
{\obeyspaces\global\let =\space}
(it is the same in plain TeX). Note that after tokenization has been performed, no more reduction is done: if TeX is fed with two consecutive STs, it will use both. This is why an input such as
\verb+x y+
\verb+x y+
\verb+x y+
will result in one, two or three spaces, respectively, between “x” and “y”.
Category code 9 (ignored) for the SC is used for expl3 code. See a TUGboat paper of mine3
References
What is a token?
What are category codes?
Recollections of a spurious space catcher
hello worldandhello worldgives the same output. – Feb 14 '19 at 03:28\verb|...|,lstlistingorminted. – Feb 14 '19 at 03:45{Mr.}doesn't affect space factor – David Carlisle Feb 14 '19 at 10:01\@command. – David Carlisle Feb 14 '19 at 16:28