Final answer:
An element is a substance made up of only one type of atom, while a compound is formed by the chemical combination of elements.
Step-by-step explanation:
An element is a substance made up of only one type of atom, while a compound is formed by the chemical combination of elements. Compounds are substances that are made up of more than one type of atom. Elements, on the other hand, are the simplest substances and are made up of only one type of atom.