Pals
Pals are the eponymous creatures of the game Palworld. Pals help the player, willingly or unwillingly, in the farm, breeding, fighting, or working in factories... including gun factories as shown in the trailer. Pals can also be sold or slaughtered off for food, however, said action is forbidden by law.
Pal Spheres
Pal Spheres are items use to capture Pals.

Higher level Pals are more difficult to catch, and thus require a better type of sphere. You can catch Pals and Alpha bosses and dungeon bosses with it. Although it is considered inhumane, you can also catch humans with it.

If you aim at a Pal from behind, you will get a back bonus and get a higher catch chance.
Technology
Technology are unlockable recipes in Palworld that require the use of Technology Points.
Foods
Food and Nutrition is a mechanic in Palworld. It is required to regenerate health and keep the Sanity of your Pals high.
Storage
Storage buildings in Palworld. Different buildings will have different sized inventories.
Materials
Materials are items that can be used to craft weapons, armor, food and other items in Palworld.
Weapons
Weapons and guns are your primary combat tools to fight off enemies in Palworld.