Permissions are important as they determine how much access and control you have over your SharePoint environment. They can be elusive and sometimes confusing to understand. The following illustration will help you to understand permission levels that are available when you are using your team site on SharePoint 2013 and SharePoint Online. These are default permissions for the team site only. Different site templates have their own permission levels, which may include these default levels or other additional permission levels. This article will only deal with the default permission levels that are available for the SharePoint team site.
References:
For more information about permissions and permission levels on SharePoint, refer to this article:
http://technet.microsoft.com/en-us/library/cc721640(v=office.15).aspx
If you have any comments of questions, feel free to email me at: sadiq@boostsolutions.com.