That's the nominal resolution to establish a physical print size (in inches).
The size setting on your camera will not change it. What that changes is the pixel dimension of the image in the same dialog in Photoshop - e.g. 3000 x 4000.
DPI = dots per inch and is what the printer specifies. Most printers (physical devices as opposed to shops you walk into) operate at 300 dpi or higher. PPI is the number of pixels used to produce an inch of print.Thank you. Should I increase the 72 Pixels/inch for printing? How does Pixels/Inch relate to DPI?