The Unordered List tool and the Ordered List tool within the Text Editor allow you to add lists to your site. Lists are a great way of laying out information on your pages because they help organize content and they are simple to read.
An Unordered List means that the bullets are not ranked or numbered in any way - they are all the same.
An Ordered List means that the bullets are ranked or numbered in chronological order.
Please note that once a block of text is made into a List you can continue on formatting the text normally, and adding in paragraphs, images and the like.