Is a ramp better than steps?

I'm curious to know, is a ramp truly superior to steps in terms of accessibility and usability? With so many factors to consider, such as the space available, the intended users, and the need for compliance with accessibility standards, it's not a straightforward question. On one hand, ramps provide a smooth, gradual incline that can be easier for those with mobility impairments to navigate. On the other hand, steps can be more space-efficient and may be preferred by those who are physically able to use them. So, I'm asking the experts, what are the pros and cons of each, and in what situations would one be more appropriate than the other?