Refractors provide good, sharp images and are good for observing pinpoint light sources such as stars and planets, but tend to be on the expensive side. Reflectors are good for observing more diffuse light sources such as galaxies and starclouds. They also provide good, sharp images but they are much less expensive because reflectors reflect the gathered starlight from just one surface. In many stores telescopes are sold by their power of magnification. The eyepiece magnifies the small image.
Different eyepieces have different magnifications.
The numbers on the eyepiece refer to their focal length. If you divide the focal length of the main lens by the focal length of the eyepiece, the resulting number is the magnification you'll get with that particular eyepiece. The lower the eyepiece numbers, the higher the magnification. In a 60 mm scope, the best you can do is 100 power. If the advertised magnification is 500 power, the scope size HAS to be 250 mm or more of aperture, otherwise the loss in resolution will degrade the image dramatically.