Most knives start start as a flat rectangular piece of steel. The grind deals with how you make it "sharp". You can just file at an angle until they meet (like your common $5 machete). However, that sort of knife is unsuitable for many uses from a cutting efficiency and sharpening effort perspective. Hence you want to to reduced the profile blade and turn it into a more triangular instead of rectangular shape. We call that effort a primary grind. The primary grinds (blue) illustrated in the first three frames are flat, hollow, convex (quite descriptive). The fourth frame is a saber grind, which basically means a grind that only goes up a portion of the height of the stock. Specifcally, it is a flat saber grind (it can also be hollow (see Cold Steel Voyagers for instance) or convex). Sometimes the descriptor "full" is used to relate the height of the grind. The first frame might be called a full flat grind, the second a full hollow grind.
We call the actual edge the secondary grind (red). The edge can take as well all of the above geometric shapes (hollow is rare though unless you grind it on a wheel). What is commonly refered to as the Scandi grind is similar to frame four, a flat saber grind without a transition between the primary grind and the edge.
We also sometimes remove some material in between the primary grind and secondary grind in an effort to thin the edge. We call that a relief grind. So now you know what everything refers to, it's just a matter of stringing the descriptors together, for example: a full flat blade with a hollow relief and convexed edge.
Funtionally, I like full flat blades, but they tend to be more expensive (it's easy to see why machining something with the profile of frame one will cost more than that of frame four simply due to the amount of material that needs to be removed, plus you should ideally start with a thicker stock). Saber grinds are commonly done due to cost and asethetic issues. The same is of true of the Scandi grind, although there is also some cultural connection as well as misplaced belief in their superiority.