The term for the process by which plants absorb carbon dioxide is "photosynthesis." This vital biological process allows plants, algae, and some bacteria to convert light energy, usually from the sun, into chemical energy stored in glucose. During photosynthesis, plants take in carbon dioxide from the atmosphere and water from the soil, releasing oxygen as a byproduct. Photosynthesis plays a crucial role in maintaining life on Earth, as it is a primary source of organic matter for almost all food chains and helps regulate atmospheric carbon dioxide levels.