Satellites are artificial objects that are placed into orbit around celestial bodies such as the Earth. These satellites revolve around the celestial body in specific paths known as orbits. Satellites can be placed in various types of orbits depending on their purpose and requirements. Among the given options, the correct answer is option 'C', which states that satellites revolve in elliptical and circular orbits.

Explanation:

1. Elliptical Orbits:
- Elliptical orbits are one of the most common types of orbits for satellites.
- In an elliptical orbit, the satellite follows a path that is shaped like an ellipse, which is a closed curve.
- The orbit is characterized by two focal points, with the celestial body being at one of the foci.
- The satellite moves around the celestial body in an elliptical path, with varying distances from the body.
- This type of orbit allows the satellite to cover different distances from the celestial body, resulting in varying speeds and altitudes.

2. Circular Orbits:
- Circular orbits are another common type of orbit for satellites.
- In a circular orbit, the satellite follows a path that is shaped like a perfect circle.
- The orbit is characterized by a constant distance from the celestial body.
- The satellite moves around the celestial body in a circular path at a constant speed and altitude.
- Circular orbits are often preferred for satellites that require a consistent coverage area or for communication satellites.

3. Other Types of Orbits:
- The other options provided in the question, such as hyperbolic and parabolic orbits, are less common for satellites.
- Hyperbolic and parabolic orbits are usually associated with trajectories of objects that are not in a stable orbit and may pass by a celestial body.
- Satellites are generally designed to be in stable orbits, either circular or elliptical, to perform their intended functions effectively.

Conclusion:
In conclusion, satellites can revolve in various types of orbits, but the most common ones are elliptical and circular orbits. These orbits allow satellites to maintain stability and perform their functions effectively.