Metabolism involves various biochemical processes during which various molecules are formed and many others get broken down. All organisms exhibit metabolism, e.g. protozoans, algae, fungi, bacteria, etc. Metabolic reactions cannot happen in a cell-free system.

While isolated in-vitro reactions carried out in laboratories cannot be termed as metabolism because they are conducted in controlled environment and are simulated. 
But such reactions can be termed as living reactions because they are the reactions going inside a living system.