Single vision lenses are the simplest variety of lens, with a correction for just one focal distance. These lenses are less expensive than other lens types and are easy to use. They can be focussed for near, distance or intermediate, depending on your requirements. For many people this is all that is required.
Single vision lenses can be made using stock (pre-manufactured) lenses, or grind (custom manufactured) methods. In general, short sighted people will get a better result with a stock lens, and long-sighted people will get a thinner, more cosmetically appealing lens if the lens is ground.