Such clipped bearing sets are used in cup and cone bearings.
The 33 mm side sits against the cup; the 40 mm side sits against the cone.
The cones are on the inside of the rotating bearing; the cups go round the outside.
On a threaded headset, the cones are below on the lower bearing, and above on the upper bearing.
On a wheel axle, the cups are on the hub shell, towards the centre, and the cones screw in and out along the axle, at the dropout side.
On an old style 3-piece bottom bracket, the cones are on the axle, towards the centre of the bike, and the cups are to the outside (crank arm side)
On a pedal, the cups are on the pedal body, and the cones are crank end and outside end,