Final answer:
The question describes the characteristics of lipids, which are hydrophobic compounds that include fats, phospholipids, and cholesterol, and are insoluble in water due to their nonpolar nature.
Step-by-step explanation:
The characteristics described in the question are those of lipids. Lipids are a diverse group of compounds that include elements such as phospholipids, cholesterol, and fats. They are largely nonpolar, making them hydrophobic and insoluble in water. This quality arises from the fact that lipids are hydrocarbons with nonpolar carbon-carbon or carbon-hydrogen bonds. Unlike carbohydrates, which have a similar proportion of carbon, hydrogen, and oxygen, lipids contain proportionally less oxygen. Lipids also serve various functions in cells, such as long-term energy storage, insulation, and forming the building blocks of hormones and cellular membranes.