option 1
It's displayed as a block
examples
Styled as block by default
- Headings
- Paragraphs
- List-items

Notice any similarities?
option 2
It's displayed inline
examples
Styled as inline by default
- Emphasis
- Strong
- Anchor
- Images

Notice any similarities?

h1, p, ul, li { display: inline; }

em, strong, a, img { display: block; }
option 3
It's not displayed
For instance
p { display: none; }
option 4
Shhhh... it's a secret
(and we'll cover it eventually)