The plasma membrane serves as a selective barrier for cells, facilitating the movement of substances through a fluid mosaic structure composed of lipids and proteins. Membrane proteins perform various functions, including transport, enzymatic activity, and cell recognition, while membrane carbohydrates play a key role in cell-cell interactions. The document also discusses mechanisms of transport including passive transport, osmosis, facilitated diffusion, and active transport, as well as bulk transport processes like exocytosis and endocytosis.