Standard Price-Book and Custom Price-Book in Salesforce?

Hello Anuj,
Both contain the price list of the products. In Salesforce, there can be only 1 standard price book and multiple custom price books. Standard is the default price book for the product and in custom, we can define our own prices as per our requirement.
For example, a product has a standard price of 100 in the collection of products but I want it different for some other location and for this I can create a custom price book for all the products.