Step 1: Understanding the Concept:
Blood consists of plasma and blood cells. Red Blood Cells (RBCs) contain a specific iron-rich protein that has a high affinity for gases. Step 2: Detailed Explanation: Hemoglobin binds with oxygen in the lungs to form oxyhemoglobin. It then travels through the bloodstream to deliver this oxygen to all the tissues and cells of the body for cellular respiration. Step 3: Final Answer:
The correct option is (b).