Since you are not asking for a specific model number it is hard for us to make the comparison.
The following link is comparing an I7, I5 and I3 processor. All of them are Ivy Bridge processors.
http://ark.intel.com/compare/65702,65719,74744
- The I7 processor is usually faster than the other ones. It comes with 8MB of smart cache, Intel® Turbo Boost Technology and Intel® Hyper-Threading Technology.
- The I5 processor is usually faster than an I3 processor. It comes with 6MB of smart cache and Intel® Turbo Boost Technology. No Intel® Hyper-Threading Technology included.
- Finally, the I3 processors come with 3MB of smart cache and Intel® Hyper-Threading Technology. No Turbo Boost Technology.
Please check this thread with information about those technologies.
https://communities.intel.com/thread/47254
Here are some link you may want to check http://www.youtube.com/watch?v=JM31kX93fHU