Electricity draw. If you are using 220-240V then the standard is 50hz. Countries that use 110-115V use 60hz as a rule.
Generally right, but he is talking about the Vertical Refresh Rate. The refresh rate refers to the number of pictures per second. This monitor most likely accepts 50 pictures per second at full resolution and 60 at lower resolution. And by the way: this monitor is very low quality, even refurbished.