Before deciding how to attack a conflict interactively, odds are that you'd like to see what exactly is in conflict, and the diff command (d) is what you'll use for this:

...
Select: (p)ostpone, (d)iff, (e)dit, (h)elp for more options : d
--- .svn/text-base/sandwich.txt.svn-base      Tue Dec 11 21:33:57 2007
+++ .svn/tmp/tempfile.32.tmp     Tue Dec 11 21:34:33 2007
@@ -1 +1,5 @@
-Just buy a sandwich.
+<<<<<<< .mine
+Go pickup a cheesesteak.
+=======
+Bring me a taco!
+>>>>>>> .r32
...

The first line of the diff content shows the previous contents of the working copy (the BASE revision), the next content line is your change, and the last content line is the change that was just received from the server (usually the HEAD revision). With this information in hand, you're ready to move on to the next action.