The plasma membrane acts as a gatekeeper that regulates what enters and exits the cell. It uses both passive and active transport. Passive transport relies on diffusion and moves substances along concentration gradients, while active transport requires energy and can move substances against concentration gradients using mechanisms like the sodium-potassium pump. The plasma membrane is a lipid bilayer with embedded proteins that gives cells structure and allows for selective permeability and transport of molecules in and out of the cell.