Which resource must a hypervisor expose to its virtual machines?

A hypervisor must expose storage to its virtual machines (VMs) because VMs require a place to store their operating system files, applications, and data. Without access to storage, a VM cannot function. This storage can be local to the hypervisor host or network-attached. Bandwidth is a network resource, not directly exposed by the hypervisor to the VM in the same way storage is; rather, the hypervisor manages the VM's access to network interfaces which then use bandwidth. An IP address is assigned to the VM's network interface by a network service (like DHCP) or manually configured, not directly exposed by the hypervisor itself. Secure access is a security feature, not a fundamental resource that the hypervisor must expose for a VM to operate; while important, it's not a core component like storage.