Final answer:
Lipids are biomolecules that are water insoluble but soluble in nonpolar solvents. They have diverse functions in living things.
Step-by-step explanation:
Lipids are a diverse group of biomolecules that are insoluble in water but soluble in nonpolar solvents like ether or chloroform. They include waxes, fats, phospholipids, steroids, and more. Lipids perform various functions in living things, such as energy storage, signaling, acting as structural components, etc. Lipids are a diverse group of compounds that are characterized by their solubility in organic solvents and insolubility in water. They become more soluble when they are bound to proteins, forming complexes known as lipoproteins, which allow for their transportation in the blood. Fatty acids with no double bonds are referred to as saturated, whereas fatty acids with one or more double bonds are called unsaturated. Lipids are crucial for storing energy, insulating organisms, and forming cell membranes, among other functions.