Teams is a fantastic product. In these times, it has successfully enabled millions of users to 'Work from Home'  Here are some of the key differences between Teams free and Teams.

Microsoft Teams free

Microsoft Teams

Features

Maximum members

500,000 per org

Potentially unlimited with an enterprise license

File storage

2 GB/user and 10 GB of shared storage

1 TB/user

Guest access

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1:1 and group online audio and video calls

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Channel meetings

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Screen sharing

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Scheduled meetings

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Meeting recording

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Available with Microsoft Stream

Phone calls and audio conferencing

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Administration

Admin tools for managing users and apps

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Usage reporting for Microsoft 365 services

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99.9% financially-backed SLA uptime

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Configurable user settings and policies

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For more details visit the Microsoft website.