Elements and compounds are pure chemical substances found in nature. The difference between an element and a compound is that an element is a substance made of same type of atoms, whereas a compound is made of different elements in definite proportions.Examples of elements include iron, copper, hydrogen and oxygen.eaning. A compound contains atoms of different elements chemically combined together in a fixed ratio. An element is a pure chemical substance made of same type of atom. Distinguishing Feature. Compounds contain different elements in a fixed ratio arranged in a defined manner through chemical bonds.