1) Derivational morphemes are bound morphemes that can derive or create new words by changing the meaning or word class of the base word. 2) There are two types of bound morphemes: derivational morphemes and inflectional morphemes. Derivational morphemes always change the meaning of a word or its word class, while inflectional morphemes may change the word class. 3) Derivational morphemes can be prefixes or suffixes that are added to root words to form new words and new dictionary entries, allowing the creation of many new words.