Bindings are divided in two main types: touring and alpine bindings.
Alpine bindings are at home in on-piste use. The most affordable ones tend to have more plastic parts and they are meant for beginners. The higher the price tag, the more rugged the bindings are - giving you a longer service life.
Touring bindings have a walking mode, enabling ascents when used together with skins. Touring bindings are used in rando skiing.