When scheduling a New Event, you can a recurrence for daily, weekly, monthly, or yearly. All New Events default to only one instance on your Calendar.
Daily: Set to every 'x' amount of days, or every day.
Weekly: Set to every 'x' amount of weeks, and choice of weekdays.
Monthly: Set certain numbered day of the month, or specific month location (i.e. Second Saturday of each month)
Yearly: Set the day or weekday location of the following year.
All recurring events can be configured to have no end date, or end on or after a certain date.