Final answer:
Phosphorus is essential for the formation of nucleic acids and some lipids, which are fundamental components of living organisms.
Step-by-step explanation:
Elements bond together to form molecules that are essential for living organisms. Among these elements, Phosphorus is the one used to build nucleic acids and some lipids. Phosphorus is a key component in the structure of nucleotides, which are the building blocks of nucleic acids like DNA and RNA, and it is crucial in the formation of phospholipids, which are a major component of cell membranes.