The cell membrane is composed of phospholipids, cholesterol, proteins, and carbohydrates. Phospholipids form a lipid bilayer that acts as a selectively permeable barrier. Cholesterol molecules maintain the integrity and fluidity of the membrane. Membrane proteins perform important functions like transporting molecules, acting as enzymes, and receiving signals. The fluid mosaic model describes the cell membrane as a fluid structure with components that can move freely within it.