The document describes a magnitude comparator circuit that compares two binary numbers and determines their relative magnitude. It explains that a comparator has three outputs - one indicating if number A is greater than B, another indicating if A is less than B, and a third indicating if A and B are equal. It then provides details on designing comparators for 2-bit and 4-bit numbers using logic gates and truth tables. Comparators are used in applications like address decoding in computers and process control systems.