Acoustic guitar string gauges (thicknesses) are measured in thousandths of an inch, and are listed from the lightest to the heaviest in a set. 'Extra Light' strings, for example, might have a range of .010 at the lightest and .050 at the heaviest. This is denoted as '10-50', and players will often simply refer to them as '10s'.
Manufacturers are constantly experimenting with gauges, but here are some examples of different acoustic string sets you're likely to see in store:
Extra Light: .009/.010 - .047/.050
Custom Light: .011 - .052
Light: .012 - .054
Medium: .013 - .056
Heavy: .014 - .059
Typically, lighter sets are easier to play, allowing for faster fingerpicking and easier bending of notes. They tend exert less tension on the neck of the guitar, and thus produce less volume and sustain. Heavier sets, by contrast, are more difficult to fret and bend, but produce more volume and sustain from having a higher resting tension on the neck.
Heavier strings are often used with larger body sizes (dreadnought and jumbo) guitars for added bass and low-mid response, while lighter strings will capture the articulate top-end of smaller (auditorium, concert, and parlour) guitars.