What is the correct order of increasing acid strength? 

Ethanol < Phenol < Acetic acid < Chloroacetic acid

The correct answer is option 3. Ethanol < Phenol < Acetic acid < Chloroacetic acid.

To explain the increasing acid strength of ethanol, phenol, acetic acid, and chloroacetic acid in detail, we must examine the structural factors that influence their ability to donate a proton \((H^+)\) and the stability of their conjugate bases.

Ethanol \((C_2H_5OH)\)
Ethanol is an alcohol with the structure \(CH_3CH_2OH\). The hydroxyl group \((OH)\) can donate a proton to form the ethoxide ion \((C_2H_5O^-)\). However, the ethoxide ion is not stabilized by resonance or any significant inductive effect, making ethanol a very weak acid.

\(pK_a\): Approximately 16, indicating very weak acidity.

Phenol \((C_6H_5OH)\)

Phenol has the structure \(C_6H_5OH\), where the hydroxyl group is attached to a benzene ring. When phenol loses a proton, it forms the phenoxide ion \((C_6H_5O^-)\). The phenoxide ion is stabilized by resonance, as the negative charge can be delocalized over the aromatic ring. This resonance stabilization makes phenol a stronger acid than ethanol.

\(pK_a\): Approximately 10, indicating moderate acidity.

Acetic Acid \((CH_3COOH)\)

Acetic acid has the structure \(CH_3COOH\), with a carboxyl group \((COOH)\). When acetic acid loses a proton, it forms the acetate ion \((CH_3COO^-)\). The acetate ion is stabilized by resonance, where the negative charge is delocalized between the two oxygen atoms. Additionally, the carbonyl group\((C=O)\) has an electron-withdrawing effect, further stabilizing the conjugate base. This makes acetic acid a stronger acid than phenol.

\(pK_a\): Approximately 4.76, indicating relatively strong acidity.

Chloroacetic Acid \((ClCH_2COOH)\)

Chloroacetic acid has the structure \(ClCH_2COOH\), where a chlorine atom is attached to the carbon adjacent to the carboxyl group. When chloroacetic acid loses a proton, it forms the chloroacetate ion \((ClCH_2COO^-)\). The chloroacetate ion is stabilized by resonance, similar to the acetate ion. Additionally, the chlorine atom is highly electronegative and exerts a strong electron-withdrawing inductive effect, further stabilizing the conjugate base. This makes chloroacetic acid a stronger acid than acetic acid.

\(pK_a\): Approximately 2.86, indicating strong acidity.

Conclusion: Based on the ability to donate protons and the stabilization of their conjugate bases, the correct order of increasing acid strength is: \(\text{Ethanol} < \text{Phenol} < \text{Acetic acid} < \text{Chloroacetic acid}\). Thus, the correct answer is: Ethanol < Phenol < Acetic acid < Chloroacetic acid