Generally, you should get a file that is icon'd the same as your browser (so if you use IE you will get the IE logo, Firefox will show the firefox logo) in the same folder as the folder and all you need to do is click that to open the page. The folder merely contains all the files needed to create the page - the individual jpgs and logos and buttons and so on - and the html file brings it all together into one page. If you delete any of the files from that folder they will disappear from the saved page.
Generally, if you just want the content, I prefer to copy and paste to a word document and not bother copying any of the images or buttons or other add ons. Usually, when using webpages as research for school lessons (and I know I am not in a room that has internet access or enough PCs for all the students) I just select the text and print it.