Compare and contrast the structure and location of arteries, arterioles, capilla

Side Note: Arteries Arterioles  Capillaries  Venules Vein ---> To heart  

Arteries:
Arteries carry oxygenated blood away from the heart. They are thick and narrow.  They contain an elastic layer in their walls. During systole, large arteries distend with blood as their elastic walls stretch. During diastole, the walls rebound, thus pushing blood along. Which is why their structure enables them to maintain a high blood pressure, and also with standing that pressure.

Arterioles and Venules:
They are smaller in diameter, and so carry smaller volumes of blood, however, they are more numerous. Arterioles and venules effectively surround the organs and tissues, to ensure that the whole of the organ/tissue can receive oxygen or remove carbon dioxide etc. 

Veins:
Veins carry de-oxygenated blood toward the heart, they are very dilate and thin, as they do not need to carry blood at such high pressures and are more stretchable than arteries
Veins act somewhat like a blood aided by one-way valves that insure unidirectional flow of blood. 

Capillaries
They are the smallest of a body's blood vessels and are parts of the microcirculation. They are only 1 cell thick. The transport through the capillaries is slower, and there is more time for diffusion, osmosis etc. to take place. The capillaries are more numerous than the arterioles and venules. This allows for effective diffusion between the blood and the tissue, as the substances do not have to travel very far. One of the most distinguishing feature is the involvement of  Precapillary sphincters. Precapillary sphincters  are bands of smooth muscle that wrap around arterioles, and control the amount of blood flowing in a particular capillary bed.

For better explanation please visit- this site explains everything

ivy-rose.co.uk/HumanBody/Blood/Blood_Vessels.php

Here's my version:

Arteries contain relatively more smooth muscle, for active regulation of vessel diameter. Large, elastic arteries have more elastic fibers, so that the vessel can stretch and recoil with ventricular contraction and relaxation, thereby minimizing fluctuation in blood pressure. Capillaries are thin and porous, reflecting their role in exchange of substances with the interstitial fluid. Veins contain valves to prevent backflow of blood, which is especially important in leg veins.