Final answer:
A component, in the context of home inspection, is something created or modified by humans for a practical purpose and is a distinct part or element of a larger system.
Step-by-step explanation:
According to the InterNACHI® Home Inspection Standards of Practice, a component is defined as something created or modified by humans usually for a practical purpose. It is a distinct part or element of a larger system.
For example, in the context of a home inspection, components can be things like electrical systems, plumbing systems, heating and cooling systems, and structural elements of a house.
Note that in the field of Home Inspection, a component is different from a compound, which refers to a substance composed of two or more elements in fixed proportions.