The term 'study of living organisms' can be summarized as the field of BIOLOGY. BIOLOGY is the scientific study of life and living organisms, including their structure, function, growth, origin, evolution, distribution, and taxonomy. It is a vast and diverse field that covers a wide range of topics, from the study of single-celled organisms to the study of complex ecosystems. BIOLOGY is an important field of study as it helps us to understand the world around us and how living organisms interact with each other and their environment.