– Choose what closing the lid does – Not sure why this is here because it brings you to the same set of options as above.
You can choose different options when you’re on battery and when you’re plugged in. Here you can choose if you want the computer to Sleep or Shutdown or Do Nothing when you press the power or sleep buttons or close the lid. – Choose what the power buttons do – This brings you to the same screen as the previous option, but it’s just the top section. If you don’t have a password for your user account, then requiring a password here won’t make any difference and you’ll still be able to login, so that’s worth noting.
If you do, then when you come back from sleep or hibernate, you’ll have to enter your password. – Require a password on wakeup – This one is pretty self-explanatory, but a little confusing because it depends on whether or not you have a password set for your user account.