What elements does the list consist of and how is it organized in memory?

In Python, a list is a dynamic array consisting of elements stored in a contiguous block of memory. Each element of the list is a pointer to an object in memory, not the object itself.

The structure of a list includes:

• An array of pointers to objects
• The size of the list (number of elements)
• Capacity (allocated size of the array, which can be larger than the current number of elements for optimization of adding elements)

When adding elements, if the capacity is exceeded, the list allocates a new block of memory of a larger size and copies the pointers there.

Example:

my_list = [1, 'text', [3, 4]]

Here, my_list contains three pointers: to the integer 1, the string 'text', and another list [3, 4]. All objects are stored separately in memory.