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The correct answer is "Plasma." Plasma is a straw-colored, viscous fluid that makes up approximately 55 per cent of the blood. It is the liquid component of blood and serves as a medium for transporting nutrients, hormones, and waste products throughout the body. Plasma is composed mostly of water, but it also contains various proteins, electrolytes, hormones, enzymes, and waste products. It plays a crucial role in maintaining the osmotic balance, pH level, and immunity within the body. Formed elements, option 2, refer to the cellular components of blood such as red blood cells, white blood cells, and platelets. Blood groups, option 3, refer to the different types of antigens present on red blood cells. Coagulation of blood, option 4, refers to the process of blood clotting.