Would you please discuss the difference between ‘standard’ and ‘extended’ Access Control Lists or ACLs?

"Access Control Lists, or ACLs, are used within windows to allow authorized users to access resources on the network. The standard ACL can prioritize network traffic using the source IP address. Extended ACLs also allow you to prioritize traffic, however, at a more granular level. In addition to the source IP address, extended ACLs allow prioritization based on the destination IP address, the TCP/UDP source and destination ports, and the protocol ID. Having this control over traffic enables network engineers to prioritize traffic and balance loads across the network."