The source of vegetable oil is plant seeds or nuts. On the other hand, olive oil is derived from olives. Generally, vegetable oil has a bland taste or no taste at all. Foods that are drizzled with olive oil always carry a distinctive taste that stands out.
Talking about the smoke point (the temperature at which oil starts to smoke), vegetable oil starts to smoke between 200 degree Celsius and 250 degree Celsius. The smoke point for olive oil is between 190 and 240 degree Celsius.
Olive oil is used for cooking, is good for the skin, and has some uses for medicinal purposes as well, such as being used as a laxative or in the preparation of some medications. On the other hand, vegetable oils are used for cooking and other uses include fuel, cosmetics, medicinal and industrial purposes.