A bone is made up of two parts:

Epiphysis: This is the rounded end of the long bone. It is filled with red bone marrow which produces red blood cells.

There are two types of epiphysis- proximal (at the top end) and distal (at the bottom end).

Diaphysis: This is the main shaft of a long bone and is made up of cancellous bone which is spongy. 

Annotation

Articular cartilage: Cartilage is a connective tissue. It is made of collagen and elastin fibres and covers the end of the bone to stop the bone from being worn down.

Cancellous bone: One of two types of osseous tissue. The density and tensile strength is low but it has a large surface area which fills the inner cavity of certain bones.

Compact Bone: This is the other type of osseous tissue. It is dense and forms the surface of the bones. Functions include support, protection, movement and mineral storage.

Medullary cavity: The central cavity of the bone shaft which contains marrow (an adipose tissue).

Nutrient Artery: This is an artery running up and down the bone that is usually accompanied by one or two veins or vessels and supplies the bone with substances from the body.  

Endosteum: A thin layer of tissue lining the medullary cavity.

Periosteum: Also a thin layer of tissue but lines the outside of the bone rather than the inside like the Endosteum does.