Step 1: Understand that blood is a connective tissue composed of both liquid and cellular components.
Step 2: Identify the liquid portion of blood, which is called plasma. Plasma is mostly water and contains dissolved proteins, nutrients, hormones, and waste products.
Step 3: Recognize the cellular components of blood, collectively called formed elements. These include erythrocytes (red blood cells), leukocytes (white blood cells), and platelets.
Step 4: Combine these two major parts: plasma (the liquid matrix) and formed elements (the cells and cell fragments) to describe the overall composition of blood.
Step 5: Conclude that the two major parts of blood are plasma and formed elements, which together perform the vital functions of transport, immunity, and clotting.