1. Arrays allow storing multiple values of the same data type under a single variable name. There are one-dimensional, two-dimensional, and multidimensional arrays. 2. One-dimensional arrays use a single subscript to store elements, two-dimensional arrays use two subscripts for rows and columns, and multidimensional arrays can have three or more dimensions. 3. Arrays can be initialized at compile-time by providing initial values, or at run-time by assigning values with a for loop or other method.