Final answer:
Waxes are lipids that consist of long-chain fatty acids and long-chain alcohols. They are soft solids with low melting points and are insoluble in water.
Step-by-step explanation:
Waxes are lipids that consist of very long-chain fatty acids bonded to a very long-chain alcohol. They are esters formed from long-chain fatty acids and long-chain alcohols. Waxes are soft solids with low melting points and are insoluble in water.
An example of a wax is cetyl palmitate, which is a natural wax present in sperm whales. It is formed from the esterification of cetyl alcohol and palmitic acid.