Two-field fluid models for low-frequency density and electrostatic potentia
l fluctuations in a purely toroidal magnetized low-beta plasma are discusse
d. In particular, we present some simple models suitable for investigating
plasma transport close to marginal stability. For gradient-driven fluctuati
ons, linear normal mode analysis of the interchange and resistive drift wav
e instabilities are reviewed, with attention to the relative phase and ampl
itude of density and electrostatic potential fluctuations. This reveals man
y characteristic features of drift-wave fluctuations that are also observed
in laboratory experiments and during ionospheric irregularities. Finally,
these results are used to investigate the nonlinearly conserved energy func
tionals, discussing the effect of magnetic field curvature and particle col
lisions on energy, enstrophy, and cross-correlation between density and vor
ticity fluctuations. Implications for turbulent fluctuations and nonlinear
transport in laboratory and ionospheric plasmas are discussed.