The document discusses three variable components of air: water vapor, aerosols, and ozone. Water vapor varies between 1-4% and is the source of clouds, precipitation, and latent heat. Aerosols are microscopic particles from natural and human sources that provide surfaces for water vapor to condense on, influencing cloud formation. Ozone is a form of oxygen with three atoms that absorbs harmful ultraviolet radiation in the stratosphere between 10-50 km above the surface.