What’s the difference between a ukulele with binding and one without?

I am looking into buying a new soprano Kala ukulele and I found two ukuleles that looked good to me. However one says it has binding and one doesn’t.

Could someone please tell me what binding is? Does it make a difference in sound/playing?

Also the one “without binding” costs about two dollars more. I’m not certain if this has to do with the binding but any insight would be fabulous.

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