Almost always used with the preposition "of," the verb consist means to be made up of, or composed of something. A heated conversation might consist of only two words: "yes" and "no."
If you're talking about something that is made up of other things, consist is your word. A molecule consists of atoms and their bonds. Consist is often used in the past tense, so you're likely to hear it used in a sentence like "the game consisted of fourteen players and one stick." But you can use it in the present tense too. Grammar consists of many, many different rules, all of which are applied differently, depending on whether you're speaking or writing. The clubs all consist of singers, and singers only. If you play an instrument, look elsewhere, bud.