Dear Monika, what do you mean by entities ? if you mean instances, the answer is yes. ontologies is a set of constraints which can be applied to a set of entities (instances)
I would like to ask one more basic question , I apologize if level of question is not appropriate ......Can anyone explain difference between graph and ontology ?
ontologie can have a structure as a graph (like RDF) or tree (Like XML ) structure.
take a look :
http://www.obitko.com/tutorials/ontologies-semantic-web/owl-example-with-rdf-graph.html
Dear Monika Graph is just a representation method. There is whole graph theory that describe it firmly. Ontology on the other hand is one of tools helpful while talking about knowledge representation. It is not limited to OWL or RDF like approaches. It is more complex and interesting at the same time.
Ontology is derived from Philosophical approach, however it was adopted by computer science. Tom Gruber in 1993 has provided us with a quite a definition, how to understand ontology in terms of computer science. I would suggest looking in to some of the source publication and it all will be clear at once.
An important question is that ontologies (in computer science) must be formal, and this is normally made by use of a logic-based language. OWL can be serialized in xml but it still implements DL (description logics).
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