>>2463219There are two main basic type of scopes - refractors and reflectors. Refractors only use lenses, while reflectors use a big concave mirror as the main optic piece.
That's a refractor. It's basically a bigger version of binoculars. Refractors don't inverse the image (flip it upside down) which is good for watching birds or wildlife. But refractors are hard, i.e. expensive, to make big.
I'm sure you can make nice observations with that one - the moon, our closest planets, maybe a big nebula or two. If you enjoy that, I would suggest that you upgrade by getting a reflector next. Buy used for a better deal, and if you end up buying from an astronomy enthusiast he will probably give you a lecture about how to use it too.