Final answer:
The correct term is 'integrating center' which receives input from receptors regarding the status of regulated variables and initiates a response to maintain homeostasis.
Step-by-step explanation:
The term that best describes the component of a control system that receives information about the status of a homeostatically regulated variable and initiates an appropriate response is integrating center. A receptor is responsible for detecting changes in the environment or internal conditions and sending this information to the integrating center, also known as the control center. The integrating center then processes this information, compares it to the set points, and signals an effector, such as a gland or organ, to initiate a response to adjust the variable back to homeostasis through negative feedback mechanisms.