Stocks or equities allow you to purchase a small percentage of a company and entitles you to benefits of the company’s growth through tax-efficient capital gains and dividend income.
A bond is an instrument of debt in which you lend your government or a company money and collect interest until the full amount is repaid within a specific amount of time.
Perhaps the most notable difference between stocks and bonds is that stocks don't really have a limited ability for appreciation. This means there is no upper limit as to how valuable stocks can become. However, when you purchase a bond you have a general idea as to the upper limit you can expect from your investment. The potential for appreciation in bonds is much lower than it is for stocks. With bonds, you're investment is low-risk and your profit margin is limited. With stocks, you're ability to profit is almost limitless, but you're risks are greater.