
Explanation

Box 1: Standard
The following table describes the types of storage accounts and their capabilities:

Box 2: Geo-redundant storage
If your storage account has GRS enabled, then your data is durable even in the case of a complete regional outage or a disaster in which the primary region isn't recoverable.
Note: If you opt for GRS, you have two related options to choose from:
GRS replicates your data to another data center in a secondary region, but that data is available to be read only if Microsoft initiates a failover from the primary to secondary region.
Read-access geo-redundant storage (RA-GRS) is based on GRS. RA-GRS replicates your data to another data center in a secondary region, and also provides you with the option to read from the secondary region. With RA-GRS, you can read from the secondary region regardless of whether Microsoft initiates a failover from the primary to secondary region.

References:
https://docs.microsoft.com/en-us/azure/storage/common/storage-introduction
https://docs.microsoft.com/en-us/azure/storage/common/storage-redundancy-grs