Python is an interpreted language. That means that, unlike languages like C and its variants, Python does not need to be compiled before it is run. Other interpreted languages include PHP and Ruby.
Python is dynamically typed, this means that you don't need to state the types of variables when you declare them or anything like that. You can do things like x=111 and then x="I'm a string" without error
Python is well suited to object orientated programming in that it allows the definition of classes along with composition and inheritance. Python does not have access specifiers (like C++'s public, private), the justification for this point is given as "we are all adults here"
In Python, functions are first-class objects. This means that they can be assigned to variables, returned from other functions and passed into functions. Classes are also first class objects
Writing Python code is quick but running it is often slower than compiled languages. Fortunately, Python allows the inclusion of C based extensions so bottlenecks can be optimised away and often are. The numpy package is a good example of this, it's really quite quick because a lot of the number crunching it does isn't actually done by Python
