This document discusses the structure, composition, and physical properties of fats and oils. It states that fats and oils have similar chemical structures as triesters formed from glycerol and long-chain carboxylic acids. Whether a triglyceride is solid or liquid depends on the degree of saturation of its fatty acid components. Fats contain saturated fatty acids and are solid at room temperature, while oils contain unsaturated fatty acids and are liquid. The document also outlines some physical properties of fats and oils, including that they are insoluble in water, soluble in organic solvents, can form emulsions with water and emulsifiers, and are poor conductors of heat and electricity.