'Homeostasis' describes the multiple interlocking processes by which physiologically important variables are maintained at acceptable values. While the term was coined in relation to the variables representing the composition of the extracellular fluid compartment, it may equally well be applied elsewhere in an organism.
The challenge of homeostasis primarily arises as a result of changes in the external environment which are beyond the organism's control. Ultimately, a deficit or excess of a factor can often only be corrected by altering its input or output from the organism. Much of homeostasis is about mitigating the effects of changes in key variables to buy time for their values to be returned to normal.
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