The term for a symbiotic relationship in which both species benefit is called mutualism. In this type of interaction, each organism helps the other in various ways, enhancing their survival, growth, or reproduction. Examples include bees and flowering plants, where bees pollinate flowers while obtaining nectar for food. Mutualistic relationships are vital for maintaining ecological balance and increasing biodiversity, as they facilitate complex interdependencies among species, contributing to ecosystem resilience and stability.