Voltage-dependent resistor

A voltage-dependent resistor of layered structure type, comprising at least one zinc oxide (ZnO) layer adjacent to at least one metal oxide layer consisting of 99.9.about.60 mole percent of bismuth oxide (Bi.sub.2 O.sub.3) and at least one of the members selected from the group consisting of 0.1.about.40 mole percent of cobalt oxide (Co.sub.2 O.sub.3), 0.1.about.40 mole percent of manganese oxide (MnO.sub.2), 0.1.about.3.0 mole percent of antimony oxide (Sb.sub.2 O.sub.3) and 0.1.about.17 mole percent of zinc oxide (ZnO) with electrodes applied to opposite surfaces.