It’s a basic post, without gallery, featured image or video before the content. Post Format is set to “Standard” by default.
Depending on theme you can also select Wide, Narrow or Right Sidebar Layout, add Drop Cap or disable meta info for any post. It is useful if you need to create a portfolio project page, etc.
If you mark post as Featured, it will be displayed in the featured tab if you use our Tabs widget. In some themes the featured post will be twice wider for magazine layout.
For any post you can add Custom Excerpt, for some our themes it will be displayed at the top of the post with larger font as intro text.
If you do not see this field, you need to enable it on the Editor Screen.