Step 1: Compare acidity.
Both phenol and ethanol can release a proton (H\(^+\)).
Step 2: Stability of conjugate base.
- Phenoxide ion is resonance stabilized over the aromatic ring.
- Ethoxide ion has no resonance stabilization, only negative charge localized on oxygen.
Step 3: Conclusion.
Thus, phenol is acidic whereas ethanol is neutral because resonance stabilization makes phenol more likely to lose H\(^+\).