1) Lipids include triglycerides, phospholipids, and steroids. Triglycerides are composed of a glycerol molecule bonded to three fatty acid molecules via condensation reactions.
2) Phospholipids are similar to triglycerides but contain a phosphate group instead of a third fatty acid. This makes one end hydrophilic and able to form bilayer cell membranes.
3) Steroids do not contain fatty acids but have similar properties and are synthesized from common intermediates, containing a 17-carbon skeleton. Some function as hormones.