Blood is composed of cellular components like red blood cells, white blood cells, and platelets suspended in plasma. Red blood cells contain hemoglobin and transport oxygen and carbon dioxide. White blood cells include granulocytes like neutrophils, eosinophils, and basophils and agranulocytes like lymphocytes and monocytes that fight infection. Platelets help form blood clots to stop bleeding. Plasma is mostly water that carries proteins and dissolved substances to tissues. Overall, blood has key functions of transportation, regulation, and protection in the body.