INTERSECT and EXCEPT compare two result sets against each other, and return rows in common, or rows that appear in one but not in the other.
CREATE TABLE #Colours1 ([Name] VARCHAR(50))
CREATE TABLE #Colours2 ([Name] VARCHAR(50))
INSERT INTO #Colours1 VALUES ('Blue'),('Red'),('Yellow'),('Pink')
INSERT INTO #Colours2 VALUES ('Blue'),('Red'),('Gray'),('Blue1'),('Black')
SELECT [Name] from #Colours1
INTERSECT
SELECT [Name] from #Colours2 --> Blue,Red
SELECT [Name] from #Colours1
EXCEPT
SELECT [Name] from #Colours2 --> Pink,Yellow
SELECT [Name] from #Colours2
EXCEPT
SELECT [Name] from #Colours1 --> Black,Blue1,Gray