It has fundamentally the same meaning for both people and things: the sense of "belonging to". "John's house" -- the house belonging to John "My friend's pen" -- the pen belonging to my friend In the case of inanimate objects, the sense is often more naturally expressed by "of", but the fundamental idea of some sort of abstract "possession" is the same: "The computer's memory" -- the memory of ("belonging to") the computer "The sun's rays" -- the rays of ("belonging to") the sun Attributive nouns (one noun modifying another in the manner of an adjective) are often used as an alternative to possessive "s". For example, "house prices" means "the prices of houses" so you might think it could (or should) be written "houses' prices".
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DamirIs it always the case (or mostly) to use atributive nouns when it's regarding to something general, 's if it's regarding to something specificThere do seem to be many examples where there is this tendency. Apart from the ones already mentioned, some that randomly come to mind are: