Resolution is an important concept when it comes to generating many of the products in Equator such as DEMs, contours and hillshades. The spatial resolution of the product refers to the area of land being represented by a single grid cell. When you specify 1-meter resolution, this means that one grid cell in the elevation product represents a 1 x 1-meter area of land.
In general, the smaller the grid cell, the higher the resolution, and vise versa. A 0.3 m grid represents much more information than a 10 m grid.
Thinking about resolution makes a ton of sense when it comes to products like DEMs and hillshades in raster format. In these products, you can often see the actual grid cells as pixels where data is stored.
When it comes to contours, it is less obvious how resolution comes into play but is still an important consideration. When contours are created in Equator, they are generated from a DEM. Similar to above, contours created from a 0.3 m resolution DEM will be much more detailed than those created from a 10 m resolution DEM.