Include File Vs Content Page

Hi,

This might seem to be a very basic thing for some people; nevertheless, I could not find it when i tried to do the search here. Or perhaps I might have missed it.

May I know what a content page is? When I tried to move to include file I encountered two options (beside the cancel button) and those are Include File and Content Page. I think I know what the include file does. For Content Page, is this something like a template where one can easily change the content while retaining the settings or styling?

Thank you.