greasepaint vs make-up

greasepaint and make-up both are nouns.

Word	Noun	Adjective	Verb	Adverb
greasepaint	Yes	No	No	No
make-up	Yes	No	No	No

As nouns, make-up is a hypernym of greasepaint; that is, make-up is a word with a broader meaning than greasepaint:

Other hypernyms of greasepaint include makeup, war paint.

greasepaint (noun)	make-up (noun)
a greasy substance used as makeup by actors	cosmetics applied to the face to improve or change your appearance
	the way in which someone or something is composed
	an event that is substituted for a previously cancelled event