The quick answer is that ball bearing slides move on a set of stainless steel ball bearings to provide smooth, quiet operation. Ball bearing slides can be purchased with a number of advanced features such as soft-close, push-to-open/close, self-close, and more.
Roller slides are an economical alternative to Ball Bearing slides but don't offer as many options or features. Roller slides often have a single plastic or nylon roller on a metal track.