Hope this helps...
1)Entity is the row in the DB.
2)Entity Bean is the Object Oriented
EJB view of that Entity in the DB.
3)EJBObject is the container created refrence to the Bean. It is not specific to any bean in the pool, rather it is created only after:
a)The container picks one bean from the pool and call the ejbCreate() method on it in response to the create() called by the Client on the Home interface.
b)The client calls a findXXX() method and the container either locates an existing EJBObject or creates one for the client based on the Primary Key passed by the Client.