In chrome, and with most other browsers, click and hold the left mouse button for up to 3 seconds and release. This will highlight the word your mouse pointer was on. You will now have the option of dragging the highlighted portion to cover as much of the content as you'd like to cut/copy and paste.
CTRL+X, CTRL+C, CTRL+V work for cut/copy and paste. You can also use the Android controls on top of the screen for your cut/copy and paste functions.
These operations are very much similar to what you'd do on other touchscreen Android devices. However, we've optimized it for keyboards and mice.