The document discusses the different types of word classes and the criteria used to classify words. There are two main types of word classes - lexical/content words like nouns, verbs, adjectives, adverbs, and prepositions that have denotations, and grammatical/function words like articles and auxiliary verbs that do not refer. Words are classified based on morphological criteria like what suffixes they take, morpho-syntactic criteria like inflectional suffixes indicating person, number or case, syntactic criteria based on context and phrase type, and semantic criteria regarding meaning.