What does "Revise" mean? I submitted a paper in a respected journal (Elsevier) in my field (Biology/Ecology). After 2 months, the review of the paper is out. I was expecting it to "Major Revision", "Accepted with Minor Revision" or "Reject" but it was not clearly stated in the decision letter what is really the verdict on my paper but instead it says "Revise" and Reviewers have now commented on your paper. You will see that they are advising that you revise your manuscript. If you are prepared to undertake the work required, I would be pleased to reconsider the revised paper for publication.

Although the reviewer's comments were positive (+constructive), minimal, some were clarifications and suggestions on what to add. But I'm still confused about what is the decision.
I’ve reviewed for several journals that asked us to pick our overall recommendation from a four-item list:


Accept, with minor revisions
Accept, with major revisions
Revise and resubmit
Reject


So “Revise and resubmit” is (in very crude terms) ranked between “Accept, major revisions” and “Reject” on a scale of favourability.  The editor is not rejecting your paper, but they are not committing to accepting it yet either — they want to re-review the revised version, before making a final decision.  At least in my field, I would typically expect that the referees for the revised version will be the same as the original referees, looking to see if their original concerns have been satisfactorily addressed.

This generally means that the revisions they want are more on the “major” side — not necessarily in their extent, but in their importance to the paper, in the reviewers’ opinion.  A example in my field (pure maths) might be: you have a theorem where the referee cannot follow your proof, and is concerned the theorem may be wrong.  The referee then asks you to give the proof in more detail, but wants to re-review the new version to ensure they are now convinced it is correct.