Both cave in cave canem and caveat in caveat emptor can be translated as beware, and both are forms of the verb of the second conjugation verb caveo, cavere, ... However, the two words are very different - the one an imperative and the other a subjunctive:
cave singular imperative
caveat 3rd person singular present active subjunctive
Turning to the meaning of these phrases, cave canem is, of course, beware of the dog; Caveat emptor means let the buyer beware.
emptor, emptoris (m) buyer
Hopefully, that's clear, but how would you say: beware of the buyer?
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