Final answer:
The condition characterized by low oxygen levels and a need for carbon dioxide balance for life maintenance is known as hypoxia.
Step-by-step explanation:
The condition when oxygen levels are low and a balance with carbon dioxide is needed for life maintenance is known as hypoxia. Hypoxia is characterized by symptoms such as fatigue, headaches, and confusion. It occurs when there isn't enough oxygen to meet the body's needs, which can happen in situations like high altitudes or respiratory diseases. In contrast, hypercapnia refers to abnormally elevated blood levels of CO2 and usually occurs when respiratory functions are impaired or due to hypoventilation from various causes. Hypocapnia, meaning abnormally low blood levels of CO2, happens with hyperventilation that drives off the CO2 from the blood.