What is use of these option in Uipath Studio?

Hi ,
I am new to Uipath , What is use of these options in Uipath Studio?
I tried to check in internet but i couldn’t understand, Please let me know anyone knows.
Uipath - new option2

Hi @sakkarapani_R1,
Welcome to the Community!

Regarding the Object Repository here is more details:

Regarding the Slim View:
When it’s off a collapsed activity looks like this

When it’s on it looks like this