This is the focal point, the point of focus.

Yes, it does focus light to form an image at the focal point and hence it is used in spectacles.

Focus (only at the focal point if the incoming rays are all parallel to the axis).

The focal point of a convex lens is the point where light rays parallel to the axis are brought to a point. What this means in practical terms is that, in a camera, the lens focuses to its focal point, which is set at the film plane. This creates the image. Today, with auto-focus lenses for most consumer cameras, we don't think about the focal point much. When the auto-focus fails, however, which it can do from time to time, the photographer must manually bring the image to the focal point.