Final answer:
Blood vessels are key components of the cardiovascular system, responsible for transportation of blood, which includes delivering oxygen and nutrients to the body's cells and removing waste products to maintain homeostasis.
Step-by-step explanation:
The basic function of the blood vessels in the cardiovascular system is to transport blood throughout the body, a crucial part of systemic circulation. The three types of blood vessels are arteries, veins, and capillaries. Arteries carry oxygen-rich blood away from the heart to the body's tissues, capillaries facilitate the exchange of oxygen, nutrients, and waste between blood and tissues, and veins return oxygen-poor blood back to the heart for reoxygenation during pulmonary circulation. This system of blood vessels ensures that every cell receives the necessary substances to function and contributes to the removal of waste products to maintain homeostasis within the body.