Summary:
This article will give you a Meeting Room License vs Microsoft Teams Shared Devices License (formerly Common Area Phone License) (for costs of licenses, contact support).
Teams Room Basic License:
What is a "Teams Room" Device
Microsoft Teams Room Basic license should only be used for "Teams Room" devices. A list of Microsoft Teams Rooms phones can be found here Microsoft Teams Rooms Packages and Systems | Teams devices.
Microsoft outlines this in their article here Microsoft Teams Rooms licenses - Microsoft Teams | Microsoft Learn.

The Teams Room Basic license will provide you with the following:
Please Note:
If you need to place outbound calls you will need to add a Microsoft Teams Phone Standard License to the user account as well.
Collaborate with your team wherever they are with hybrid meeting experiences
Instantly join meetings with one-touch join
Easily share content with wireless sharing
Enable real-time collaboration for every attendee, with a shared digital canvas
Available on Windows, Android, and Surface Hub devices
Supported with Teams rooms on the following:
Windows
Android
Surface Hub
Can join a meeting in the following ways:n
One-touch join
Proximity join
Meeting ID
Meet now (start ad-hoc meetings)
Direct guest join for Zoom and Webex meetings
Can share and collaborate all Teams content
For meeting engagement, Teams video gallery with multiple layout options is provided
Peer-to-peer and group calling and receiving
Secure operating system and system-level security (such as secure boot and assigned access)
Access to Teams Admin Center enrollment and inventory
Automatic updates
Microsoft Teams Shared Devices:
What is a "Shared Device"?
Phones intended to be "common area phones" or "shared spaces" devices. Further information is provded in Microsofts documentation here Microsoft Teams Shared Devices licensing - Microsoft Teams | Microsoft Learn
Teams Shared Devices license will provide you with the following:
Join meetings by dialing in
No Voicemail
Peer-to-peer answering and initiating call
Place outbound calls
If you need more information, check out this article with Microsoft:
Teams Rooms Licenses: https://www.microsoft.com/en-us/microsoft-teams/microsoft-teams-rooms/compare-rooms-plans