Fatty acids are the main components of fat in a diet. They largely determine its nutritional and technological properties.
Technically, fats which are liquid at room temperature are called ‘oils’. They are rich in unsaturated fatty acids, such as olive oil. Fats which are solid at room temperature are called ‘fats’. They are rich in saturated fatty acids. For practical reasons, in this Q&A the term ‘fats’ is used for both liquid (oil) and solid fats (fats).