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Lipid

Definition:

An essential structural component of living cells, lipids are a class of oily organic compounds which are insoluble in water but soluble in fats and oils. The lipid class of molecules mainly consists of fats, oils and waxes.

Source: GreenFacts

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Important lipids include fatty acids (saturated and unsaturated). They are a component of phospholipids and fats :

  1. phospholipids, main component of biological membranes composed of glycerol phosphate backbone, fatty acid substituents, and hydrophobic headgroups
  2. sterols, cholesterol derived membrane components, (sex) hormones, and bile salts (intestinal detergents).

Source: What is Life Glossary of Scientific Terms 

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