Statement 1 accurately describes an ecological niche as encompassing the range of conditions a species can tolerate, the resources it utilizes, and its functional role within the ecosystem. This is a comprehensive definition. Statement 2, stating that each species has a distinct niche, aligns with the competitive exclusion principle (Gause's law), which suggests that two species competing for the exact same limiting resources cannot coexist at constant population values if other ecological factors remain constant. Distinct niches allow for species coexistence.