There are much info about standard permission levels in SharePoint. Here is my visualization for that. Just a little bit easier to find out the right permission level. Enjoy:

Full Control (FullMask)

Design

Contribute

Read

Limited Access

Restricted Reader

Manage Hierarchy

Approve

ViewListItems

x

x

x

x

x

x

AddListItems

x

x

x

x

EditListItems

x

x

x

x

DeleteListItems

x

x

x

x

ApproveItems

x

x

OpenItems

x

x

x

x

x

x

ViewVersions

x

x

x

x

x

DeleteVersions

x

x

x

x

CancelCheckout

x

x

x

ManagePersonalViews

x

x

x

x

ManageLists

x

x

ViewFormPages

x

x

x

x

x

x

Open

x

x

x

x

x

x

x

ViewPages

x

x

x

x

x

x

AddAndCustomizePages

x

x

ApplyThemeAndBorder

x

ApplyStyleSheets

x

ViewUsageData

x

CreateSSCSite

x

x

x

x

x

ManageSubWebs

x

CreateGroups

ManagePermissions

x

BrowseDirectories

x

x

x

x

BrowseUserInfo

x

x

x

x

x

x

AddDelPrivateWebParts

x

x

x

x

UpdatePersonalWebParts

x

x

x

x

ManageWeb

x

UseClientIntegration