Final answer:
The ovaries produce oocytes and secrete steroid hormones such as estrogen and progesterone, crucial for the menstrual cycle and preparation for pregnancy.
Step-by-step explanation:
The gonads, which include the ovaries in females, are responsible for producing steroid hormones. The ovaries produce oocytes, the female gametes, through a process called oogenesis. This involves a series of steps starting with primordial follicles developing into primary, secondary, and tertiary follicles, which are stimulated by follicle-stimulating hormone (FSH) produced by the anterior pituitary. During the follicular phase of the ovarian cycle, the granulosa and theca cells of the tertiary follicles produce estrogen, primarily estradiol, in response to FSH and luteinizing hormone (LH). Post ovulation, the granulosa cells luteinize to form the corpus luteum, which produces progesterone. Both estrogen and progesterone are vital in regulating the menstrual cycle and preparing the body for potential pregnancy.