Policy is a JSON document with one or more permissions
Effect - Allow or Deny
Resource - Which resource are you providing access to?
Action - What actions are allowed on the resource?
Condition - Are there any restrictions on IP address ranges or time intervals?
Example above: AWS Managed Policy : AdministratorAccess
Give Read Only Access to S3 buckets - "Action": ["s3:Get*"
,
"s3:List*"]