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Hi
Is it possible to use buttons to load different pages into the "Embedded Page" object? I tried using the onclick event, but it doesn't let me select the target. Any help on this will be appreciated. Thanks.

No that is not possible. Embedded pages don't really exist. They are only used during design time. They are combined with the page when published. It's so you can add the same things to multiple pages with only having to make changes to one page when editing.

If you want different pages to appear on a page then try using an iframe.

The sole purpose of "Embeded Pages" is for using one object across many pages ie a image or a menu. Please see How to use Embeded Pages?

Maybe you are referring to How to use Master Frames? or How to use Master Pages?
As suggested by crispy68 you can also use iframes but it can have issues with displaying the correct size of the page its security and is if responsive as the iframe has no way of knowing this and can.only display it "AsIs".