Refresh rate means the number of times a display refreshes in a second .It is measured in Hertz(Hz).
60Hz,90hz and 120hz simply indicates the number of times display refreshes in a second for ex- 60 Hz Display refreshes 60 times in a second ,90 Hz – 90 times and 120Hz -120 times. The Higher the Refresh rate the smoother the Display. So usually screen’s with High Refresh rate are preferred but they’re a bit expensive.