So after you've joined to knit in the round and you're going around and around and around, you are knitting in the round; and there are a few things to remember about this. Right now, I'm working a little bit of ribbing here on my round knitting. That's knit one, purl one, which yields the same surface on the front as on the back. There's the inside, there's the outside.
But let's say I want something different, something other than a rib. If you remember, when you're knitting flat in order to get stockinette you need to knit on the front and purl on the back, but not so with knitting in the round. If I just knit all the way around every single stitch, every single round I would be getting stockinette.
I never have to work the back. So I'm just going to knit a few stitches here and show you that on the front I've started building up just knit stitches. On the inside of my hat or cowl or whatever this is that I am knitting on the round, you see all the purl stitches so I'm automatically getting stockinette as I go.
If I wanted garter stitch in the round, I would have to knit one round, and then move the yarn to the front, and purl one round. So there are benefits and differences to knitting in the round. Here's a little hat that I've made and it shows you garter stitch on the bottom.
So that's knitting around and purling around and knitting around and purling around, and then I switched to just knitting for many, many, many rounds, which got me stockinette and then I did some decreases. So knitting in the round is a great way to get quick way to get stockinette and to make circular items that don't need to be sewn up.