Elements:

* Metals:

* Gold (Au)

* Iron (Fe)

* Copper (Cu)

* Aluminum (Al)

* Silver (Ag)

* Nonmetals:

* Oxygen (O)

* Nitrogen (N)

* Carbon (C)

* Sulfur (S)

* Chlorine (Cl)

* Metalloids:

* Silicon (Si)

* Boron (B)

* Germanium (Ge)

* Arsenic (As)

* Antimony (Sb)

Compounds:

* Inorganic Compounds:

* Water (H₂O)

* Salt (NaCl)

* Carbon Dioxide (CO₂)

* Ammonia (NH₃)

* Nitric Acid (HNO₃)

* Organic Compounds:

* Glucose (C₆H₁₂O₆)

* Ethanol (C₂H₅OH)

* Methane (CH₄)

* Aspirin (C₉H₈O₄)

* DNA (Deoxyribonucleic acid)

Key Differences:

* Elements are pure substances that cannot be broken down into simpler substances by chemical means.

* Compounds are formed when two or more different elements chemically combine in a fixed ratio.

Examples of how the distinction is important:

* Water is a compound made from hydrogen and oxygen, but it has properties distinct from both hydrogen and oxygen.

* Gold is an element and cannot be broken down into anything simpler.

This list is just a small sample; there are many more elements and compounds!