TOPIC: Acquire Resource vs Conduct Procurement?

Can anyone explain the difference between the two? is it merely resource within/external to the organization?

If I am borrowing a construction worker (from another functional area within my organization) for my project, does that belong to Resource or Procurement management?
What about hiring contractors that will be working within my project team?

Acquiring Resources could be both internal or external. If the resource is coming from within your company, then its just acquire resource and is an assignment of some kind. Its when no resource can be found internally that you go external to the company and find someone. At that point the process shifts to a procurement process in order to contract help or gain them in some manner of negotiation.
Borrowing a worker from another area in an organisation would be acquire resource process.
Contractors imply the key word 'contract', which should inidcate that these resources are or have been acquired by a procurement process.

What about the physical resources? We buy the materials in the Conduct Procurement process, so what is the purpose of Acquire (Physical) Resources? What activities are done in the Acquire Resources process in terms of physical resources?

I think they go together, Acquire physical resources may need to conduct procurement processes as you may not have them available. Usually, you can not get these resources and expense them yourself as most companies would have rules established to prevent.

The best reason I can think to justify this is: CAPEX vs OPEX, if it's officially procured, physical resource, it may be seen as CAPEX. In contrast, If you buy this and expense it will definitely be seen as an operations expense