Recycling involves reusing items that would otherwise be thrown away and involves processes like upcycling, downcycling, and e-cycling. Upcycling creates new products by adding value to existing items, downcycling breaks items into components to make something new, and e-cycling recycles electronic equipment. Recycling is important as it reduces costs, preserves resources, lowers pollution and energy use, and can provide income or opportunities for creative skills while helping address issues like global warming.