The question requires us to complete the sentences regarding characteristics and properties of lipids.
First, we need to keep in mind what are lipids: these essential molecules to cell's membranes are typically made of a glycerol backbone, fatty acid "tails" (the hydrofobic part) and and a phosphate group (a hydrophilic part). The term "lipids" is commonly used as a synonym for "fats", which it isn't completely wrong as they share many properties (for example, lipids don't mix with water).
As they are organic molecules, all lipids have carbon, oxygen and hydrogen in their structure, while some of them can contain other elements (such as phosphorus for the phospate group and nitrogen).
<em>Considering the information above, we can complete the sentences as:</em>
<em>1. "Lipids is a general term describing organic molecules that are </em>insoluble<em> in water".</em>
<em>2. "</em>All<em> lipids are made of carbon, hydrogen and oxygen, while </em>some<em> lipids contain other elements..."</em>