Sheep are usually, but not always a wool bearing animal (some sheep only have hair, not wool). They are of the genus, Ovis. Sheep are usually raised for wool and meat. A very few are also raised for their milk, to make specialty cheeses. You can think of the word "sheep," kind of like the word "people." A group of "people" can be made up of men, women, children, boys, girls, ect.
Lamb is a baby sheep of either sex. Think of the word "lamb" like the word "child." A youngster of either sex.
Ram is an intact (still has testicals) male sheep, used for breeding.
Ewe is an adult female sheep.
Goat is a memeber of genus, Capra. Think of the word "goat," like the word "people." Goats are usually raised for milk, dairy goats, often for meat, and also for fiber. Goats do NOT have wool, they have hair. The Angora goat is the main fiber goat, with their hair being called "mohair."
Doe is a female goat
Buck is an intact (still has testicals) male goat
Kid is a baby goat of either sex
Goats and sheep are closely related. They are both of the subfamily, Caprinae. The easiest way to tell a sheep from a goat is by their tails. In goats their tails point up toward the sky. In sheep, they hang down, pointed at the ground.
Mutton is the meat (flesh) of an adult sheep. Mutton is eaten by some people. It's very strong in flavor. Most people prefer to eat lamb meat.
Also, because you may hear the term, "wether" is a castrated (no testicals) male sheep, or goat. Both are properly refered to as "wethers." The word is pronouced the same as weather.
Permaulture homesteading/farming over 20 years
Raising meat goats and sheep since 1999 (currently over 100 goats in my herd, and 13 sheep)