When we talk about lexical units. We refer to a word.

So it is the main unit of the lexical system of a language

and results from the association of sounds with a meaning.
Then a word is a unit of speech that is used for communication. It is also a semantic, phonological and
grammatical unit within the lexical system.
Another important thing to know is the structural types of English words.
It is divided into simple, derived, compound, compound derived.
- Simple words has one root morpheme and an inflexion (in many cases the inflexion is zero), e.g. seldom,
chairs, dog.
Inflection refers to a process of word formation in which items are added to the base form of a word to express
grammatical meanings.
Inflections in English grammar include the possessive ’s; the plural -s; the third-person singular -s; the past
tense -d, -ed, or -t; -ing forms of verbs; the comparative -er; and the superlative -est. 
- Derived words consist of one root morpheme, one or several affixes and an inflexion, e.g. acceptable,
unemployed, and disagreeable.
- Compound words consist of two or more root morphemes and an inflexion, e.g. username, videodisc, book-
stores.
- Compound-derived words consist of two or more root morphemes, one or more affixes and an inflexion, e.g.
baby-sitters, job-hopper.

Another term that we must know is the stem because when talking about the structure of words, stem must also
be mentioned. So the stem is the part of the word that remains unchanged.
Examples:
Hop: hops, hopped, hopping.
Job-hop: job-hops, job-hopped, job-hopping

A morpheme is the smallest linguistic part of a word that can have a meaning. So, in other words, morpheme is
the smallest meaningful part of a word.
Morphemes are divided into two large groups:
 Lexical or root morphemes;
 Grammatical (functional) morphemes.
Both lexical and grammatical morphemes can be free and bound.
 Free lexical morphemes are roots of words which express the lexical meaning of the word that they
coincide with the stem of simple words, e.g. dog, book, room.
 Bound lexical morphemes are affixes: prefixes (dis-) disabled,(un-) unnatural, suffixes (-ish) friendship
and quickly.
 Semi-bound (semi-free) morphemes can function both as an affix and as a free morpheme, but it is
composed with two words. For example: well-known, half-done.

Free grammatical morphemes are function words: articles, conjunctions and prepositions, e.g. (a, an, the, but,
and, under, on, in).
 Bound grammatical morphemes are inflexions (endings), e.g. (-s) teachers for the Plural of nouns, (-ed)
added for the Past Indefinite of regular verbs,(-ing) speaking for the Present Participle, (-er) bigger for the
Comparative adjectives.