Elements are the simplest form of matter with only one type of atom. Examples of elements are helium, gold, oxygen, carbon, and hydrogen.On the other hand, compounds are made up of two or more elements that have been chemically combined in a fixed proportion. An example of a compound is water (H2O) which is composed of two hydrogen atoms and one oxygen atom.In summary, elements are pure substances composed of only one type of atom, while compounds are made up of multiple elements chemically combined in fixed proportion.