The kanji and the word are exactly the same. That means they share meanings as well.
Since this word is made up of a single kanji, it uses the kun'yomi reading. You haven't learned this reading yet, so here's a mnemonic to help you:
Look to the right. There are meat geese (みぎ) over there. What are meat geese, you ask? They're geese made of meat, that sit to the right of you, trying to get you to do bad things. Like the devil/angel motif you see in cartoons. Well there's nothing on your left. And on your right? Just meat geese. Watching you. Waiting. Geese made of meat. Telling you not to do the right thing.
Please don't water the tree on the right.
Click the button on the bottom right.
On your right is a chart showing the Japanese population.