Final answer:
A neutral group of atoms held together by a covalent bond is referred to as a molecule. This molecule can be either a single element or a chemical compound, distinguished by its lack of electrical charge, unlike polyatomic ions which do carry a charge.
Step-by-step explanation:
A neutral group of atoms held together by a covalent bond is known as a molecule. This grouping is stable because the covalent bond involves the sharing of electrons between atoms, creating a lack of electrical charge. A molecule can be composed of the same type of atoms such as molecular hydrogen (H2), or it can consist of different types of atoms, forming a chemical compound like water (H2O) or methane (CH4).
In contrast, polyatomic ions are also groups of atoms held together by covalent bonds but they carry an overall electric charge, which allows them to engage in ionic bonding with other ions. Molecules and polyatomic ions are distinct in this regard. The term 'molecule' generally applies to electrically neutral entities, whereas polyatomic ions have a charge and are components of ionic compounds.