Luminosity is like how bright a light or fire is. Think of it like a light bulb or a campfire. The brighter the light or fire, the more luminosity it has.
In space, scientists use luminosity to describe how bright stars are. Some stars are really, really bright and have a lot of luminosity, while others are not as bright and have less luminosity.
Scientists measure luminosity by looking at how much energy a star gives off or produces. The more energy a star produces, the brighter it is, and the more luminosity it has.
So, to sum it up, luminosity is just a way to describe how bright something is, like a star, and it's measured by the amount of energy it gives off.