Which process involves the exchange of oxygen and carbon dioxide between cells and circulating blood?

The correct answer relates to cellular respiration, which is the process that involves the exchange of oxygen and carbon dioxide between cells and circulating blood. During cellular respiration, cells utilize oxygen to generate ATP (adenosine triphosphate) from glucose and other nutrients. As a by-product of this metabolic process, carbon dioxide is produced and must be eliminated from the cells. This exchange occurs at the cellular level, where oxygen is absorbed from the blood, and carbon dioxide is released into the bloodstream for transport back to the lungs for exhalation.

The other options, while related to respiratory and metabolic processes, do not specifically encapsulate the comprehensive exchange that occurs at the cellular level. Diffusion refers to the general movement of particles from an area of higher concentration to an area of lower concentration, which does contribute to the gas exchange process, but does not fully encompass the cellular activities involved. Oxygenation typically refers to the process of adding oxygen to blood, primarily in the lungs, rather than the exchange between cells and blood. Alveolar ventilation focuses on the movement of air in and out of the alveoli in the lungs, which is part of the respiratory process but does not directly address the cellular exchange function.