number of words in language $L \subset \Sigma$

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I had my lecture today about decidable languages and as I am reviewing the material I have from the university, I got quite confused about the following definition:

$\emptyset$ doesn't contain any words and is called the empty set. $\Sigma^*$ contains all possible languages from $\Sigma$, and $\Sigma$ contains all words of length 1.

Does this mean if I define a Language $L \subset \Sigma$, $L$ is the set of all Languages of length 1?

Specifically, if $\Sigma=\{0,1\}$, then the length $L$ is 2?