Question

Draw a diagram of human respiratory system and label the following balloon like structure where exchange of gases take place

Answer 1

you just see the diagram on Google I can tell you what is balloon like structure...lungs.

Answer 2

$\huge{\ulcorner{Respiratory\:System..}}}\rfloor$

Pair of nostrils are present in us, which leads to nasal chamber through nasal passage. The nasal chamber opens into nasopharynx Nasopharynx opens into trachea from larynx. 

Trachea is a long and straight tube, which divides into bronchi. Each bronchi further divides into bronchioles , which gave further rise to alveoli. $\textbf{Alveoli}$ is a thin bag like structure, here exchange of gases takes place.

Branching network of bronchi, bronchioles and Alveoli comprises the Lungs. Each lung is covered by a pleural layer. This membrane/layer contain fluid in it, which reduce the friction. 
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