The document discusses morphology, which is the study of word parts called morphemes. There are two types of morphemes: bound morphemes, which cannot stand alone as words, and free morphemes, which can. Prefixes and suffixes are bound morphemes that are added to the beginning or end of root words to change their meaning. Derivational morphemes create new words with different meanings, while inflectional morphemes change grammatical functions. New words can also be formed through processes like compounding, clipping, blending, and meaning changes. The document provides examples to illustrate morphological analysis and the identification of morphemes.