Lots really. A wireless access point only connects devices wirelessly. It does generally not have a firewall or the ability to control traffic etc. A router is what connects a wifi network to the internet so it has a lot of functionality built in to protect the internal network from the internet. It also routes all the traffic between your house / office and the internet including hiding your internal IP range through a process called NAT (Network Address Translation). A router will be more expensive and this is due to the added functions.
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